Prestige group buys 21 acres of land in Whitefield for about Rs 450 crore

1 year ago 18

BENGALURU: Prestige Group has acquired about

21 acres

of prime land in

Whitefield

, Bengaluru, in a deal valued at about

Rs 450 crore

. The real estate developer plans to develop about

4 million square feet

of residential space on the site and build an estimated

1,800 apartments

.
“The prime land in Whitefield, Bengaluru, presents an excellent opportunity for us to expand our presence in a large

IT corridor

This large-format project has a projected gross developable value of ₹4,500 crore,” said

Irfan Razack

, chairman, Prestige Group.
The Bengaluru-based company has been actively acquiring land, either through JVs or outright purchases, to develop

large residential projects

. “The project will strengthen our sales in our home market, and we look forward to launching the project within the next three quarters and completing the development in four years,” said group CEO

Venkat K Narayana

Article From: timesofindia.indiatimes.com

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