Prestige Group Eyes Entry into Delhi through Collaboration Deal in Delhi

Prestige Group Eyes Entry into Delhi through Collaboration Deal in Delhi

Prestige Group, a major Bengaluru-based real estate developer, is in advanced talks with TDI Infratech for a joint venture in Delhi to develop a luxury residential property in Lutyens’ Delhi. This collaboration deal in Delhi will mark a new era for the prestige group in Delhi, NCR.

• Project Location: Kasturba Gandhi Marg, Lutyens’ Delhi
• Land Area: 5,100 square yards
• Estimated Property Value: Rs 325-350 crore
• Estimated Revenue Potential: Rs 700 crore
• Possible Development Plan: 8-9 boutique apartments

Significance:

• Marks Prestige Group’s entry into Delhi’s residential market.
• Caters to the demand for high-end residences in Lutyens’ Delhi, a prestigious location.

Project Details:

• Prestige Group conducting legal due diligence before finalizing the agreement.
• Revenue sharing with TDI Infratech likely.
• Existing loan of Rs 225 crore on the property expected to be cleared by Prestige Group.

Background:

• Prestige Group has a strong presence in the luxury segment nationally.
• The company is scouting for land parcels in Delhi and Gurgaon for further expansion.

Similar Development:

• Godrej Properties also has a joint venture with TDI Infratech for a luxury project in Gole Market, central Delhi.

Overall, this potential deal signifies Prestige Group’s strategic move to tap into the high-end residential market of Lutyens’ Delhi.

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in