Prestige Estates Projects Ltd, a listed real estate developer from Bengaluru, has entered a Joint Development Agreement (JDA) with a landowner to develop a residential project on a 17-acre land parcel, as announced by the company in a regulatory filing on April 1.

With a potential Gross Development Value (GDV) of ₹4,200 crore, the company aims to create homes that are well planned out, keeping in mind the modern demands of the homebuyers.

The 17.212-acre land parcel is strategically positioned in Gurugram's Sector 92, offering excellent connectivity to major business districts, proximity to the Dwarka Expressway and easy access to robust infrastructure for a convenient lifestyle.

The company said that with this project in Gurugram, it continues to support their goal to expand their footprint in key markets like the NCR. Irfan Razack, Chairman and MD of Prestige Group, said that despite consistent regional demand, the company is maintaining a disciplined approach, prioritizing sites with infrastructure improvements and sustainable growth potential.

1. Central Park Estates had announced on February 19 the launch of its ultra-luxury housing project titled 'Belanova'. With a total investment of ₹1,200 crore and a potential GDV of ₹2,500-3,000 crore, the project will offer 124 residential units. Positioned in a strategic location, Belanova is one of the residential offerings inside the 47-acre Central Park Resorts ecosystem.

2. In February, Signature Global had announced its plans to build a luxury residential project in Gurugram's Southern Peripheral Road (SPR). With an estimated Gross Development Value (GDV) of around ₹5,000 crore, the company will develop an expansive mixed-use project on a 25-acre land parcel, dedicating the 7 acres for building luxury homes, and the remaining 18-acre land parcel for retail, office and hospitality spaces.

3. Earlier this year in January, M3M India, a real estate developer from Gurugram, and group company Smartworld Developers tied up with Elie Saab, a global fashion and lifestyle brand, to develop two luxury housing projects in Gurugram and Noida. The projects will feature more than 950 residences, with approximately 300 apartments located in Gurugram and around 650 residences in Noida.

Through strategic partnerships and a disciplined expansion into the NCR, Prestige Group is reinforcing its commitment to high-quality urban development. By combining the local potential of Sector 92 with a focus on timely execution, the company aims to deliver long-term value to its stakeholders while solidifying its growing residential footprint in North India.