Realty firm Prestige Estates has tied up in a joint venture to build a residential project in Gurugram with a potential revenue of Rs 5,600 crore.
Bengaluru-based Prestige Estates has entered a joint development agreement (JDA) with a landowner for the project in its Delhi-NCR foray. It is now constructing a housing project in Ghaziabad and will soon launch a residential project in Noida.
In a regulatory filing on Thursday, the company said that it has acquired 17.14 acres in Sector 109, Gurugram for residential development. Prestige Estates project will have a sellable area of around 28 lakh sq ft, and the expected revenue is Rs 5,600 crore.
Chairman and Managing Director of Prestige Group, Irfan Razack, said, “Our entry into the NCR residential market last year was a significant milestone in our growth trajectory, and the response from the market is very positive.”
The Prestige Group is the largest real estate development partner in India. They have delivered 319 projects, spanning 216 million sq. ft., till June 2026. It has a current pipeline of 137 projects with 229 million square feet.
For investors and homebuyers, this development highlights the growing appeal of Gurugram as a prime residential real estate destination. HedgeHomes helps buyers evaluate the different property opportunities across the emerging and established locations in Delhi NCR.
