Prestige Group has acquired 62.5 acres land in Indirapuram Extension, Ghaziabad. The cost of acquisition amounts to Rs 468 crore, along with a revenue share.The project spans over 10 million sq ft of saleable area, with a projected gross development value (GDV) surpassing Rs 10,000 crore.
The acquired land will be developed primarily as residential, complemented by education and retail.Venkat K Narayana, group CEO of the company said, “We look forward to launching the project within the next two quarters and completing the development in four years.”With this acquisition, the company has expanded its footprint in the National Capital Region (NCR).