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Prestige Group is Making Debut in Commerical Real Estate Market of Mumbai




Bangaluru based builder, Prestige Group is going to sign a joint development agreement for two projects in Mumbai. The company will work on 4 million square feet area to make its debut in the city’s main commercial real estate market. Prestige Group has attempted to enter Mumbai’s office market many times and has conducted similar deals in the past. The company was in talks with DB Realty to enter into the joint development projects in Mumbai. One project includes the Bandra Kurla Complex (BKC) and another includes under-construction residential at Mahalakshmi in South Mumbai.

A spokesperson for DB reality has denied the development of projects in an email response and the email queries to Prestige Group also remained unanswered. DB Realty is also looking to join other builders to develop some other projects in the city. Prestige Group in the last month has entered into a joint development agreement with another Bengaluru based firm RMZ Corp. to develop Mumbai’s 60-year-old Kamalistan Studio that is also called Kamal Amrohi Studio.

The company is also working on its personal project named, Prestige Elysian, located Off Bannerghatta Road in South Bangalore. The project features elegantly drafted residential units of type 1, 2 and 3 BHKs configured over open spaces and landscaped assarts. The region is connected to many places like Nice Road, MG Road, Kanakapur, Electronic City, JP Nagar, and Jayanagar. Prestige Elysian price for these properties can vary between 3898 to 6829 square feet depending upon the location, amenities, and brand.

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