Prestige Estates Unveils Rs 10,000 Crore Ghaziabad Township Project

Bengaluru-based realty firm Prestige Estates Projects Ltd announced its ambitious plan to invest Rs 10,000 crore over the next six years to develop a 62.5-acre township in Ghaziabad, Uttar Pradesh. The company is optimistic about the housing demand in the Delhi-NCR market.

With its first project, 'Prestige City, Indirapuram', Prestige aims to redefine real estate standards in this region. The firm plans to develop a 10 million square feet area, comprising 4,041 homes and an 8 lakh square feet shopping mall, as part of a joint development project. The initial phase includes the launch of 3,421 apartments, hoping to generate over Rs 9,000 crore in sales.

The company, led by Chairman and Managing Director Irfan Razack, has already sold 1,200 units for Rs 3,000 crore and remains confident in selling all units shortly. Razack highlighted the focus on quality and timely delivery to tackle challenges in the NCR property market. With this project, Prestige Estates aims to fortify its legacy as a leading real estate developer in India.

(With inputs from agencies.)