Prestige Estates Acquires 22,135 sq m Land in Mira Bhayandar for INR 291.58 Crore
Synopsis. Prestige Estates Projects has bolstered its presence in Mumbai's real estate market by acquiring 22,135 square metres of land for a hefty sum of INR 291.58 crore.
Prestige EstatesMira BhayandarReal EstateLand AcquisitionMumbaiReal Estate MumbaiNov 21, 2024
Prestige Estates, known for its high-quality residential and commercial projects, has been actively looking for new opportunities to strengthen its market presence. The acquisition of this prime land is a significant step towards achieving this goal. Mira Bhayandar, located on the western suburbs of Mumbai, has seen a surge in demand for residential properties due to its well-connected infrastructure and affordable living options.
The land acquisition was completed through a transparent and competitive bidding process, which underscores Prestige Estates' reputation for ethical business practices. The company plans to develop a mix of residential and commercial units on the newly acquired land, catering to the growing needs of the local population.
Prestige Estates has a rich history of delivering projects that meet the highest standards of quality and sustainability. Founded in 1986, the company has completed over 150 projects and has a strong presence in major cities across India. The company's focus on innovation and customer satisfaction has earned it a loyal customer base and a strong brand reputation.
The Mira Bhayandar region has been experiencing rapid urbanization, with the development of new infrastructure projects such as the Mira Road Elevated Corridor and the Mira Bhayandar Metro. These projects are expected to further boost the real estate market in the area, making it an attractive destination for developers and investors alike.
Prestige Estates' CEO, Ravi Menon, expressed his optimism about the acquisition, stating, 'We are excited about this opportunity to expand our portfolio in Mira Bhayandar. The region's strong growth potential and strategic location make it an ideal choice for our next major project. We are committed to delivering world-class developments that enhance the quality of life for our residents.'
The acquisition is also expected to have a positive impact on the local economy, creating job opportunities and boosting real estate values in the area. Prestige Estates' commitment to sustainable development practices will ensure that the project aligns with the environmental goals of the region.
In conclusion, Prestige Estates' latest land acquisition in Mira Bhayandar is a strategic move that aligns with the company's long-term growth plans. With a focus on quality, innovation, and customer satisfaction, Prestige Estates is well-positioned to deliver a project that will be a landmark in the Mira Bhayandar skyline.
Frequently Asked Questions
What is the size of the land acquired by Prestige Estates in Mira Bhayandar?
Prestige Estates has acquired 22,135 square metres of land in Mira Bhayandar.
How much did Prestige Estates pay for the land in Mira Bhayandar?
Prestige Estates paid INR 291.58 crore for the land in Mira Bhayandar.
What are Prestige Estates' plans for the acquired land?
Prestige Estates plans to develop a mix of residential and commercial units on the newly acquired land in Mira Bhayandar.
Why is Mira Bhayandar an attractive location for real estate development?
Mira Bhayandar is attractive for real estate development due to its well-connected infrastructure, affordable living options, and rapid urbanization.
What is Prestige Estates' commitment to the local economy in Mira Bhayandar?
Prestige Estates is committed to creating job opportunities and boosting real estate values in Mira Bhayandar, contributing positively to the local economy.
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