In South Mumbai, Prestige Group sells Luxury Homes worth Rs. 1300 Crore

Courtesy: Star Estate
Posted on: 2024-04-30
In South Mumbai, Prestige Group sells Luxury Homes worth Rs. 1300 Crore

The Prestige Group records sales of Rs. 1300 crore for its luxury residential project in Mumbai. These figures are attained in the first three months of pre-launch, the company said.

It is a Prestige Ocean Tower bang on Marine Lines famous as a queen's necklace with Arabian sea frontage. The uber project outspread over 2- acres comprises two towers and 169 units. The developable area at this Prestige project stands at 4.62 lakh sq ft carpet area. It has a revenue potential of nearly Rs. 4,100 core.

Irfan Razack, CMD, Prestige Group said, "This will be one of the most iconic luxury developments in the country and we would like to thank our customers, partners, stakeholders and well-wishers for the constant support and trust in us. This encourages us to launch the remaining inventory at Prestige Ocean Towers sooner than we anticipated."

In the pre-launch phase, the developer uncurtained 75 residences beholding a potential revenue of Rs. 1700 crore. Interestingly, 70% of the inventory was sold prior to the official launch of the experience center and sample apartment, the company said.

Prestige group forayed into Mumbai, the financial capital of India, two years back and sold inventory approximately worth Rs. 6,000 crores. It includes Prestige Jasdan Classic in Mahalaxmi. Another one is Prestige Daffodils in Bandra.

Tariq Ahmed, CEO West, Prestige Group said, "We are thrilled to unveil another magnificent edifice with this launch, a testament to Prestige group's unwavering commitment to crafting spaces that redefine living."

The company has business expansion plans in Mahalaxmi and BKC in Mumbai. Prestige Group is underway to introduce luxury property portfolios in these localities to meet noble investors' expectations.

By far, Prestige group has accomplished 300 projects with a total developable area of 190 mn sq ft.