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Prestige Group launches premium housing project in Bengaluru, homes starting from ₹92 lakh
Prestige Group launches premium housing project in Bengaluru, homes starting from ₹92 lakh
Bengaluru-based listed real estate developer Prestige Group has launched a residential development in the eastern IT corridor of Whitefield with an estimated Gross Development Value (GDV) of ₹5,000 crore, with homes starting from ₹92 lakh, the company said in a regulatory filing.
Spread across approximately 24 acres, the project Evergreen at Prestige Raintree Park comprises nearly 2,000 apartments with a total saleable area of 3.2 million sq ft, it said.
The project includes one, two, three, and four-bedroom residences with prices starting at around ₹92 lakh, the company said.
The new phase is designed to meet emerging demand for smaller units among urban buyers, investors, and young professionals seeking well-located homes with high-quality amenities, the company said.
Whitefield continues to remain one of Bengaluru's most competitive residential micro-markets, supported by major IT hubs, robust social infrastructure, and enhanced connectivity through the metro network and arterial road improvements, it said.
Irfan Razack, Chairman and Managing Director of Prestige Estates Projects Limited, said the expanded product mix aims to meet evolving customer preferences. He highlighted the project's strategic location at the Whitefield–Varthur junction, offering proximity to office corridors, malls, schools, and hospitals, positioning Evergreen for healthy absorption in upcoming quarters.
Currently, the Group plans to achieve ₹50,000 crore in home sales by FY29-30, nearly tripling last year's ₹17,000 crore, Zayd Noaman, Executive Director, CMD's office, Prestige Group, earlier told Hindustan Times Real Estate.
With a presence across 13 cities, Prestige Group is now eyeing new markets. “We're actively exploring Pune, Gurugram, and Noida, cities where we have not yet launched residential projects but see significant growth potential,” Noaman had said.
He said that the company's focus will be on the ₹2–3 crore segment, which captures the bulk of genuine housing demand, while also pursuing marquee projects in premium locations.
Source: Msn
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