Bengaluru-based Prestige Group aims to establish itself as a key player in Delhi-NCR’s competitive real estate market with the launch of its first residential project in the region — Prestige City Indirapuram. The group’s Chairman and Managing Director, Irfan Razack, stated on Tuesday that the group intends to redefine real estate standards in NCR by delivering projects that are "better and bigger".
“Whatever project we take at Prestige, there is a timeline. We believe we can do things better and bigger…We want to rewrite the way real estate is done in this region. We do not want to be the biggest player but definitely the best developer in the NCR market," said Razack.
Acknowledging the steep rise in housing prices over recent years, Razack emphasized that Prestige Group is committed to fair pricing, targeting genuine homebuyers rather than bulk sales to brokers. He stressed the company’s focus on quality and timely delivery, a persistent challenge in Delhi-NCR’s real estate market.
Prestige is investing around Rs 10,000 crore over the next six years to develop a 62.5 acre township at Ghaziabad, Uttar Pradesh. In the first phase, it has launched 3,421 apartments with a total sales potential of over Rs 9,000 crore. The total gross development value of the entire project will touch around Rs 12,000 crore.
Prestige Estate has already sold 1,200 units for over Rs 3,000 crore in the last seven days and is hopeful of selling all 3,421 units over the next few weeks. The apartments are priced between Rs 1.5 - Rs 4 crore with deliveries scheduled to commence from November 2029.
Razack said that his company is scouting for land in the region, including Gurgaon and Noida, for new projects. Prestige is already developing a commercial project at Delhi's Aerocity comprising hotels and office spaces. It also has a small land parcel in the centrally located KG Marg where it plans to develop an ultra-luxury project.