Prestige Group Launches Rs 12,000 Crore Housing Project in Ghaziabad

Prestige Group, a prominent name in the real estate sector, has announced its ambitious entry into the National Capital Region (NCR) residential market. The company has launched the first phase of a sprawling Rs 12,000 crore housing project in Ghaziabad, marking a strategic move to capitalize on the growing demand for high-quality residential properties in the region.

The project, named 'Prestige City', spans over 500 acres and is designed to cater to a diverse range of homebuyers, from first-time buyers to luxury seekers. The development includes a variety of housing units, from compact apartments to spacious villas, all equipped with modern amenities and state-of-the-art facilities.

Dr. P. Rajendran, the Managing Director of Prestige Group, stated, “This project is a milestone in our journey. Ghaziabad has emerged as a preferred location for residential developments due to its proximity to Delhi, robust infrastructure, and planned connectivity. Our focus is on creating a sustainable and holistic living environment that enhances the quality of life for residents.”

The first phase of the project, which covers 150 acres, will include 3,000 residential units. The units will range from 2 to 4 bedrooms, with prices starting from Rs 50 lakhs. The project will also feature a range of amenities such as a clubhouse, swimming pools, fitness centers, and play areas, making it an attractive option for families and young professionals alike.

Ghaziabad, a city in the western part of Uttar Pradesh, has seen significant growth in recent years. The city is well-connected to major cities like Delhi and Noida through a network of highways, metro lines, and expressways. The development of modern infrastructure, including commercial complexes and educational institutions, has further boosted the city's appeal as a residential destination.

Prestige Group, known for its commitment to quality and innovation, has a strong presence in cities like Bangalore, Chennai, and Pune. The company's entry into the Ghaziabad market is part of its broader strategy to expand its footprint across key urban centers in India. The launch of 'Prestige City' is expected to set new benchmarks for residential projects in the region and attract a wide array of investors and homebuyers.

The project is expected to be completed in phases, with the first phase scheduled for completion within the next three years. The company has already started the construction work and is confident of timely delivery. Prestige Group has also announced several attractive schemes and incentives for early buyers, including customizable interiors and flexible payment options.

In addition to the residential units, 'Prestige City' will also include commercial spaces, making it a self-sustaining township. The project is expected to create thousands of job opportunities, both directly and indirectly, contributing to the local economy and fostering community development.

The launch of this project comes at a time when the real estate sector in India is witnessing a period of recovery and growth. The government's focus on affordable housing and infrastructure development, coupled with favorable interest rates, has boosted consumer confidence. Prestige Group's commitment to delivering high-quality projects that meet the evolving needs of homebuyers aligns well with the current market trends.

As the project progresses, Prestige Group is keen to engage with the local community and stakeholders to ensure that 'Prestige City' becomes a model of sustainable and inclusive growth. The company's track record of delivering robust and innovative projects, combined with its strong financial health, positions it well to succeed in this ambitious venture.