Prestige Group acquires 21 acres of land in Bengaluru for Rs 450 crore

The recent trending real estate topic is all about Prestige Group, the leading Bangalore-based builder, acquiring 21 acres of land in Silicon City worth Rs 450 crore. Their next launch is to build 1,800 ultra-urban living spaces that span over 4 M sq ft of land.

It is in Whitefield, the city's most sought-after housing spot. The project is foreseen to generate an income of Rs 4,500 crore over the next four years. In a recent BSE filing, the builder confirmed that it had acquired land that is appropriate for a huge township.

The plot is huge and planned to accommodate more living and retail spaces. While addressing the acquisition, Prestige Group Chairman and Managing Director Irfan Razack said that Whitefield is a prime spot and offers an ideal prospect for builders.

The presence of the large IT corridor allows for a large-format project. This project is expected to return a high gross value. The chief executive officer, Venkat K Narayana, confirmed that this mega project in Whitefield is to be launched within the next three quarters and to be completed in four years.

Prestige Group has business models across various segments, like housing, office, retail, hotels, warehouses, and more functioning in more than 12 major cities in India. It is one of the most trusted builders of the nation.

Raintree Park is a new launch township by Prestige Group in whitefield. It spans over 100 acres of land size, with approximately 28 acres planned for housing purposes. It offers 1368 flats spread across 18 towers with 2 basements, a ground floor, and 19 additional floors.

It offers living spaces in various layouts like 3, 4, and 5 bhk flats. It is a lakefront township and includes commercial spaces. The flat rate starts at ₹2.9 Cr onwards, and its size ranges from various from 2000 to 3500+ Sq.ft.