Real estate firm Prestige Estates Projects announced on that it had launched its first housing project in Delhi-NCR, aiming to tap into strong consumer demand with a revenue potential of Rs 120 billion. The company will develop this housing project in Ghaziabad, Uttar Pradesh.

In a regulatory filing, the company shared that it had entered the National Capital Region (NCR) residential market with the launch of the first phase of 'The Prestige City-Indirapuram.' With all approvals secured, Prestige Group has begun marketing the first phase—Oakwood and Mulberry—representing a Gross Development Value (GDV) of over Rs 90 billion. The company added that when the second phase, "Mayflower," is launched, it will bring the total GDV of the entire residential development to Rs 120 billion.

The first phase will feature 3,421 premium homes across 19 towers, with unit sizes ranging from 1,681 sq ft to 6,026 sq ft. The township spans 62.5 acres in Indirapuram Extension on National Highway 24.

Irfan Razack, Chairman and Managing Director of Prestige Group, expressed that the launch marked a significant milestone for the company. He shared his excitement about entering the vibrant NCR residential market with The Prestige City-Indirapuram and emphasized that the project reflected the scale, ambition, and integrated lifestyle the Prestige Group stands for.

Prestige Estates Projects Limited, a leading real estate developer in India, has a legacy of over three decades and has delivered more than 300 projects across various sectors, including residential, commercial, retail, hospitality, and mixed-use developments.

News source: The Week