Prestige Group Snaps Up Prime 22,135 Sq. Mtrs Land in Mira for Residential Project
Prestige Group, a leading real estate developer in India, has announced the acquisition of approximately 22,135 square meters of land in the Mira area of Mumbai. This strategic move is aimed at expanding their residential portfolio in one of the most prom
Prestige GroupReal EstateMiraMumbaiResidential DevelopmentReal Estate MumbaiNov 15, 2024
The acquisition is part of Prestige Group's commitment to providing high-quality living spaces to the growing population of Mumbai. With this purchase, the company aims to develop a new residential complex that will offer modern amenities and a premium lifestyle to its residents. The project is expected to feature a mix of apartments, penthouses, and possibly commercial spaces, catering to a wide range of customer segments.
on Prestige Group
Prestige Group, founded in 1985, is one of India's leading real estate developers. Headquartered in Bangalore, the company has a diverse portfolio that includes residential, commercial, and mixed-use projects across major cities in India. Known for its commitment to quality and innovation, Prestige Group has successfully delivered over 400 projects, covering a vast area of more than 250 million square feet. The company's robust financial standing and strong brand reputation make it a trusted name in the real estate industry.
Strategic Importance of the Mira Area
The Mira area, located in the western suburbs of Mumbai, has seen significant growth in recent years. It is well-connected to other parts of the city via major road networks and public transportation, making it an ideal location for residential developments. The area is also home to several educational institutions, healthcare facilities, and retail centers, further enhancing its appeal to homebuyers.
The proximity to key industrial zones and business parks has also contributed to the area's popularity. Many professionals and families are moving to Mira to benefit from its convenient location and growing infrastructure. The acquisition by Prestige Group is a testament to the area's potential and is expected to further boost its development.
Project Highlights
The residential project on the newly acquired land is expected to be a landmark development in the Mira area. The project will likely feature
- Luxurious Apartments A range of 2, 3, and 4 BHK apartments with ample living space and modern amenities.
- Penthouses Exclusive penthouses with panoramic views and premium finishes.
- Green Spaces Well-maintained gardens and parks for residents to enjoy.
- Security State-of-the-art security systems to ensure the safety and peace of mind of residents.
- Facilities Amenities such as swimming pools, fitness centers, and community halls.
Future Prospects
The acquisition of the 22,135 square meter land by Prestige Group is a strategic move that aligns with the company's long-term growth plans. With the increasing demand for quality residential spaces in Mumbai, this project is poised to be a significant addition to the city's real estate landscape. The company's focus on innovation and sustainability is expected to set new standards in the residential sector.
Conclusion
Prestige Group's acquisition of prime land in the Mira area of Mumbai is a clear indication of the company's confidence in the region's potential. This move not only strengthens their presence in one of India's most dynamic cities but also underscores their commitment to delivering world-class residential projects. As the development progresses, residents of Mira can look forward to a new benchmark in luxury living, further enhancing the area's appeal as a sought-after residential destination.
Frequently Asked Questions
What is Prestige Group's latest acquisition in Mumbai?
Prestige Group has acquired approximately 22,135 square meters of land in the Mira area of Mumbai for a new residential development.
Why is the Mira area a strategic location for real estate development?
The Mira area is chosen for its rapid urban development, proximity to key industrial zones, and well-connected infrastructure, making it an attractive location for both residential and commercial projects.
What types of residential units will be included in the new project?
The project is expected to feature a range of 2, 3, and 4 BHK apartments, as well as exclusive penthouses with premium finishes.
What amenities will be provided in the new residential project?
The project will include amenities such as swimming pools, fitness centers, community halls, and well-maintained green spaces.
How does this acquisition align with Prestige Group's long-term growth plans?
This acquisition aligns with Prestige Group's strategy to expand its presence in key cities and deliver high-quality residential projects, leveraging the increasing demand for quality living spaces in Mumbai.
Related News Articles
L&T Realty and Valor Estate Partner to Develop Luxury Mumbai Project Worth INR 8500 Crore
The 7.5-acre land parcel in Bandra Reclamation has a history dating back to 2006, with a consortium led by Om Metals receiving approval from the Maharashtra Housing and Area Development Authority (MHADA) for development.
India's Housing Market Sees 5% Growth in Sales Across Top 8 Cities
Mumbai leads the pack with 9% growth in sales, while Bengaluru sees 11% growth, according to a new report by Knight Frank India.
Maharashtra Set to Revise Ready Reckoner Rates: Could Real Estate Prices Go Up?
The Maharashtra government is set to revise the Ready Reckoner (RR) rates, which could potentially impact real estate prices. This revision, expected to take effect from April 1, comes after a hiatus of over three years.
Vascon Engineers Ltd Expands to Mumbai Real Estate with Rs 300 Crore Project
Pune-based Vascon Engineers Ltd, a leading player in Engineering, Procurement, and Construction (EPC) and real estate, is making waves with its ambitious Rs 300 crore project in Mumbai. This strategic move marks the company's entry into the bustling real
Real Estate Developers Secure 2,335 Acres for ₹40,000 Crore in 2024
Real estate developers have acquired 2,335 acres for ₹40,000 crore in 2024, with Tier 1 cities holding 72% and Tier 2 cities 28% of the land. This significant investment highlights the continued growth and development in the Indian real estate sector.
India’s Office Market Embraces Sustainability: Two-Thirds of Stock Now Green
A recent report highlights the rapid shift towards sustainable real estate in India, with two-thirds of the country's office stock now classified as green. This trend underscores the growing commitment to environmental responsibility in the corporate world.