Prestige Group Acquires 17 Acres Land in Whitefield for Residential Project

Prestige Group has recently acquired 17.45 acres of land in Whitefield, Bengaluru, for INR 462 crore. This acquisition supports the company's strategy to expand in the competitive Bengaluru real estate market. The land will be developed into a large residential project spanning approximately 2.68 million square feet. The location is also adjacent to Prestige Group’s existing Prestige Raintree Park project, further strengthening its residential portfolio in the growing area.

Irfan Razack, Chairman and Managing director of Prestige Group, expressed his enthusiasm for this expansion, emphasizing the company's commitment to creating high-quality living spaces that align with modern urban living needs. He highlighted that this project represents a forward-looking approach to urban development, aiming to deliver an integrated residential environment that caters to the evolving demands of city dwellers.

Prestige Group’s new project in Whitefield comes at a time when the Bengaluru real estate market is witnessing an upsurge in demand, especially in sought-after areas like Whitefield, known for its tech parks, residential complexes, and commercial hubs. This makes the locality particularly appealing to both working professionals and families. The company’s decision to add another large-scale residential project in this region underlines its belief in the continued potential of the Bengaluru market, which remains one of India's top real estate destinations.

Founded over three decades ago, Prestige Group has established a strong presence across India, particularly in major urban centers. As of September 2024, Prestige Group has completed 302 projects, covering a developable area of around 193 million square feet. The company operates across diverse segments, including residential, commercial, retail, and hospitality spaces. 

The Whitefield land acquisition is part of a broader growth strategy that includes plans for several new projects in key markets like Mumbai and Bengaluru. The company’s decision to move forward with large-scale developments reflects confidence in a market recovery and a belief that its premium offerings will continue to attract buyers looking for quality and reliability in a competitive landscape.

Prestige Group’s Whitefield project is expected to cater to a range of customers by offering residential units that likely blend modern amenities with accessibility to Bengaluru’s tech and business corridors.