Prestige Estates to debut Rs 16 bn housing project in Indian market

06 Jul 2023 CW Team

Prestige Estates has revealed plans to embark on a housing project in Noida this year, which will be their first venture in north India. The CEO expressed confidence in the thriving demand within this region, historically dominated by competitors like DLF.

Throughout the years, Prestige Estates has primarily focused on its home base in Bengaluru, as well as a few cities in south India, successfully developing over 280 projects encompassing residential, commercial, retail, and hospitality sectors. They initiated their inaugural residential project in Mumbai the previous year.

At present, Prestige Estates is awaiting final approvals to commence a mid-income housing project in Noida, spanning 2.2 million square feet. Venkat K Narayana, CEO, informed that the launch is anticipated to occur in the quarter ending in September 2023.

The CEO further stated that the project holds a value exceeding 16 billion rupees, which amounts to an average cost of approximately 8,000 rupees per sq ft.

Based on a report from Credai, Colliers, and Liases Foras, which tracks prices, the average housing cost in the national capital region (NCR), including New Delhi, experienced a notable surge of 16% during January-March. This increase constitutes the highest rise observed throughout the country, reaching 8,432 rupees per sq ft.

While the housing demand in India has recently seen a recovery, it predominantly stems from the desire for luxury projects rather than affordable options.

Also read:
Q2 2023 sees NCR’s unsold housing stock drop 21%
Magenta Mobility unveils PLENT

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..