"Prestige Group Purchases 21 Acres in Whitefield, Bengaluru for 4 Mn Sft Residential Project"

Prestige Group, renowned for its prominence in the Indian real estate sector, has revealed its latest acquisition of approximately 21 acres of prime land in Whitefield, Bengaluru.

The acquired land is earmarked for residential development, encompassing an extensive 4 million square feet of developable area, which is estimated to accommodate around 1800 apartments. The acquisition cost stands at Rs. 450 crore.

Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, expressed his enthusiasm regarding the acquisition, stating, "The acquisition of prime land in Whitefield, Bengaluru offers an exceptional opportunity for us to expand our footprint in a significant IT corridor. This substantial project spans over 4 million square feet of developable area, with an anticipated Gross Development Value (GDV) of Rs. 4,500 crore."

Mr. Venkat K Narayana, Group CEO of Prestige Group, added, "The project is poised to enhance our sales in our primary market, and we are eager to launch the project within the next three quarters, targeting completion within a span of four years."

Prestige Group maintains its unwavering commitment to upholding the highest standards of design, execution, and customer service, ensuring that each project mirrors its fundamental values of innovation, integrity, and trust.

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