Prestige Arm Acquires Over Two Acres In Mulund For Rs 1.11 bn

30 Jul 2026 CW Team

The site sits adjacent to the company’s Prestige City township in Mulund West, an integrated development spanning roughly 32.71 acres. Prestige City comprises residential towers with about 2,761 homes distributed across six towers rising up to 54 floors, alongside retail and commercial spaces. The township has delivered its first residential phase and is positioned in the foothills near Yogi Hills. The acquisition abuts the existing project footprint and is intended to support further development.

CRE Matrix described the additional acquisition as a fresh two point three five-acre plot and noted that it will most likely extend the township footprint or add a new phase. The documents show the transaction value equates to nearly Rs 1.17 lakh per sq metre of land on the basis of the stated consideration. The deal structure reported by market records indicated that Rs 80 crore was paid in cash with the balance to be discharged through property in the ongoing Prestige City project. The payment balance was reported as 14 apartments plus 28 car parking spaces.

The records placed the cash and non-cash components at Rs 80 crore (800 mn, 0.8 bn) and Rs 30 crore (300 mn, 0.3 bn) respectively, together matching the stated consideration. Local market indications cited per sq ft values across Mulund West between Rs 25,000 and Rs 35,000 and monthly rents for two bedroom units in older stock in the range of Rs 35,000 to Rs 45,000. The companies involved had not responded to queries at the time of reporting. Further updates will follow if responses are received.

Prestige Mulund Realty Private Limited (Prestige Mulund Realty) has acquired two acres of factory land in Mulund West, Mumbai, from Shamvik Glasstech and General Glass Company for Rs 110.75 crore, according to registration documents accessed via CRE Matrix. The parcel measures 9,497.30 sq metres and contains a built-up area of 4,638.06 sq metres. The developer paid stamp duty of Rs 6.64 crore for the July 16, 2026 registration. Converted values place the deal at Rs 1.1075 bn (1,107.5 mn). The site sits adjacent to the company’s Prestige City township in Mulund West, an integrated development spanning roughly 32.71 acres. Prestige City comprises residential towers with about 2,761 homes distributed across six towers rising up to 54 floors, alongside retail and commercial spaces. The township has delivered its first residential phase and is positioned in the foothills near Yogi Hills. The acquisition abuts the existing project footprint and is intended to support further development. CRE Matrix described the additional acquisition as a fresh two point three five-acre plot and noted that it will most likely extend the township footprint or add a new phase. The documents show the transaction value equates to nearly Rs 1.17 lakh per sq metre of land on the basis of the stated consideration. The deal structure reported by market records indicated that Rs 80 crore was paid in cash with the balance to be discharged through property in the ongoing Prestige City project. The payment balance was reported as 14 apartments plus 28 car parking spaces. The records placed the cash and non-cash components at Rs 80 crore (800 mn, 0.8 bn) and Rs 30 crore (300 mn, 0.3 bn) respectively, together matching the stated consideration. Local market indications cited per sq ft values across Mulund West between Rs 25,000 and Rs 35,000 and monthly rents for two bedroom units in older stock in the range of Rs 35,000 to Rs 45,000. The companies involved had not responded to queries at the time of reporting. Further updates will follow if responses are received.

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