Prestige Group, a prominent Bengaluru-based real estate developer, has announced its ambitious venture, Prestige City Hyderabad, poised to become the city’s largest mixed-use township. This expansive project requires an investment of Rs 5,000 crore and will be spread across a vast 64-acre expanse. With a development potential of 14 million sq ft, it holds the promise of transforming Hyderabad’s urban landscape. Venkat K Narayana, CEO of Prestige Estates Projects, has revealed that Prestige City Hyderabad is scheduled for completion within the next four years and is projected to have a remarkable gross development value of Rs 8,000 crore.
This ambitious undertaking encompasses a diverse range of elements, including 33 acres dedicated to apartments, with a saleable area of 9.6 million sq ft, totaling 4,647 units. Additionally, the project will feature 24 acres of villas, offering 0.8 million sq ft of saleable space, amounting to 119 units. A significant component of the development is a sprawling retail mall covering seven acres, with a total area of 1 million sq ft.
Prestige City Hyderabad aims to establish itself as one of the city’s prominent gated communities, offering a variety of villa and apartment configurations, including 1 BHK, 2 BHK, 3 BHK, and 4 BHK units.
Prestige Group is currently actively engaged in eight projects across Hyderabad, spanning locations such as Nanakramguda, Khanapur, HitecCity, Kokapet, Shamshabad, and RajendraNagar. Additionally, the group is set to introduce an extensive office space spanning 3 million sq ft in Nanakramguda.
With an impressive track record of successfully completing 285 projects, covering a developable area of 170 million sq ft, Prestige Group currently manages 54 ongoing projects across various segments, with a total developable area of 75 million sq ft.
The group also has ambitious plans for 48 upcoming projects, encompassing 99 million sq ft of space. As of July 2023, Prestige Group possesses a substantial land bank extending over 680 acres and operates in 13 different cities.