Prestige Group has acquired an anticipated 2.35-Acre land parcel in Mulund (West), Mumbai, for an estimated 110.75 INR-Crore. The company acquired the property from Shamvik Glasstech Pvt Ltd and General Glass Company Pvt Ltd. The deal was registered on July 16, with stamp duty of 6.64 INR-Crore.
The acquired property comprises a 2.35-Acre land parcel along with an existing built-up structure measuring 4,638.06 SqM. The transaction also includes 28 car parking spaces. The source article did not disclose the proposed development planned for the site. However, the acquisition adds another strategic land parcel to Prestige Group’s development pipeline in the Mumbai Metropolitan Region.
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The Prestige Group Mulund land acquisition further strengthens the developer’s presence in Mumbai’s eastern suburbs. Additionally, the acquisition supports the company’s strategy of expanding through outright land purchases, redevelopment projects and joint development agreements. The transaction also reflects continued developer interest in strategically located land parcels across Mumbai despite higher acquisition costs.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, the image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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