Prestige Estates to Launch ₹30,000 cr Housing Plans in Prominent Cities

Prestige Estates Projects will announce its residential projects worth ₹30,000 crores this quarter since it has ready a series of projects across three cities, including Bengaluru, Delhi-NCR, Chennai and Mumbai. It seeks to capitalize on the increasing demand for this space while awaiting final regulatory clearances.

Prestige Estates claims that many of these high-velocity projects are in the final stages of clearance and will roll out soon. These future developments, which they claim are “high-velocity projects,” come in prime urban areas and bank on the huge momentum in residential real estate markets.

The diversified vertical of the real estate major consists of residential, commercial, retail, hospitality, property management, and warehousing across 13 key cities in India. Prestige Estates has 59 under-construction projects amounting to 101 million sq. ft. It also has 65 more planned projects aggregating to an additional 96 million sq. ft.

Prestige Estates has a sales guide for the ongoing financial year at ₹24,000 crore. In the first nine months of the financial year, the company sold 8.09 million sq. ft. of real estate. The average selling price for the quarter amounted to ₹13,128 per sq. ft., taking the total sales value to ₹10,065.7 crore.