Prestige Group, a real estate developer based in Bengaluru has plans to transform the skyline of Hyderabad with their project called Prestige City Hyderabad. This enormous mixed-use township covers an area of 64 acres. Requires an investment of Rs 5,000 crore. It is expected to become the development, in the city offering a range of housing options such as apartments and villas along, with a sprawling retail mall.
Prestige Group, a real estate developer headquartered in Bengaluru, has unveiled ambitious plans for its latest venture, Prestige City Hyderabad, set to become the city’s largest mixed-use township.
This expansive project carries a substantial investment of Rs 5,000 crore and will be spread across a sprawling 64-acre plot. With a development potential of 14 million sq ft, it promises to transform the city’s landscape.
Venkat K Narayana, the CEO of Prestige Estates Projects, disclosed that Prestige City Hyderabad is slated for completion within the next four years, projecting a remarkable gross development value of Rs 8,000 crore.
This ambitious undertaking encompasses diverse elements, including apartments sprawling over 33 acres with a saleable area of 9.6 million sq ft, equating to 4,647 units. Furthermore, it will feature villas, occupying 24 acres and offering 0.8 million sq ft of saleable space, totaling 119 units. A significant addition to the project will be the development of a retail mall spanning seven acres, comprising 1 million sq ft.
Prestige City Hyderabad aims to establish itself as one of the city’s most prominent gated communities, offering a variety of configurations for villas and apartments, including 1 BHK, 2 BHK, 3 BHK, and 4 BHK units.
Currently, Prestige Group is actively engaged in eight projects throughout Hyderabad, with locations spanning Nanakramguda, Khanapur, HitecCity, Kokapet, Shamshabad, and RajendraNagar. Additionally, the group is set to introduce an expansive office space, covering an area of 3 million sq ft in Nanakramguda.
The track record of Prestige Group is impressive, having successfully completed 285 projects, encompassing a developable area of 170 million sq ft. They currently have 54 ongoing projects across various segments, with a total developable area of 75 million sq ft.
Furthermore, the group has ambitious plans for 48 upcoming projects, encompassing 99 million sq ft of space. As of July 2023, the group possesses a substantial land bank spanning over 680 acres and conducts operations in 13 different cities.
