Bengaluru-based realty firm Prestige Group has entered the National Capital Region (NCR) with the launch of a project in Ghaziabad. The total topline of the project, a mix of residential and commercial development, will be Rs 12,000 crore.
The Prestige City-Indirapuram will be the first Prestige Group project in the Delhi NCR micro-market. The township, which will come up in Indirapuram, will be executed in two phases.
The company has begun marketing the first phase - Oakwood and Mulberry, which together represent a Gross Development Value (GDV) of over Rs 9,000 crore. The second phase, Mayflower, would will take the GDV of the entire development to Rs 12,000 crore.
The first phase features 3,421 premium homes across 19 towers, offering a mix of 2 and 3 BHK homes, 3 BHK + home office, and 4 BHK + home office residences, with unit sizes ranging from 1,300 sq ft to 6,026 sq ft. Both phases combined will have 4,041 apartments.
Launching the project in New Delhi on May 6, Prestige Group chairman and managing director Irfan Razack said the project would have a built up area of more than 10 million square feet and the company has closed the presales of over 1,200 apartments worth Rs 3,000 crore.
The tentative investment, including the construction cost, is likely to be around Rs 8,000 crore, he said.
Spread over 62.5 acres in Indirapuram Extension on National Highway 24, the township will have two clubhouses and an integrated Forum Mall for retail and entertainment experiences.
Located off the Delhi-Meerut Expressway, The Prestige City – Indirapuram is poised to become NCR’s next iconic address, benefiting from excellent connectivity, robust social infrastructure, and the dynamic growth of the Indirapuram Extension corridor, Razack said.
“It is only the beginning — we are deeply committed to expanding our presence in NCR. We are confident it will set a new benchmark for the region and redefine what modern living means in NCR,” he said.
The project will have 19 towers and would each stand 150 metres tall. The ticket price for 2BHK apartment (1,300 sq ft) would be around Rs 1.5 crore, Rs 2 crore for 3BHK+2toilet unit, while 4BHK apartments will start from Rs 4 crore.
The company plans to deliver the project by November 2029.
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