Prestige Group Secures Prime 21-Acre Land in Whitefield for Luxury Residential Development

The Prestige Group, a leading Indian real estate developer, has strategically acquired approximately 21 acres of prime land in Whitefield, Bangalore. This significant purchase, valued at around Rs 450 crore, marks a pivotal expansion for the company in one of the city's largest IT corridors.

Envisioning a grand residential project the Prestige Group plans to transform this site into about 4 million square feet of luxurious living space, comprising an estimated 1,800 apartments. This ambitious project not only aims to enhance the urban landscape but also to meet the growing demand for high-quality housing in the bustling tech hub of Bangalore.

A grand real estate development in Whitefield

Irfan Razack, the chairman of the Prestige Group, expressed enthusiasm for the project, citing the prime location in Whitefield as an outstanding opportunity to broaden the company's footprint in a key IT corridor. He projected a gross developable value of Rs 4,500 crore for this large-scale venture, reflecting its significance in the company's portfolio.

Commitment to Growth and Excellence

Underlining its aggressive strategy for growth, the Bangalore-based firm has been on a spree of land acquisitions, whether through joint ventures or outright purchases, aimed at developing large residential projects. Venkat K Narayana, the group's CEO, shared plans to kick off the project within the next three quarters and to wrap up development within four years. This move is expected to bolster the company's sales in its home market, further solidifying its reputation for delivering excellence.