2 hrs ago
Prestige Estates Launches Rs 1,750 Crore Bengaluru Project
Prestige Estates is building a large housing project in Devanahalli, Bengaluru.
The project is called Prestige Parklane.
It is expected to be worth nearly Rs 1,750 crore.
The development will have 1,788 homes in nine tall buildings.
Buyers will be able to choose one-, two- or three-bedroom homes.
The community will include gardens covering four acres.
It will also have a 30,000-square-foot clubhouse.
The company says the project is close to the Satellite Town Ring Road and is meant for people who want homes in North Bengaluru.
Prestige Estates launched the Rs 1,750 crore Prestige Parklane residential project in Devanahalli, Bengaluru.
The 11.91-acre development will include 1,788 homes across nine towers, with one-, two- and three-bedroom units.
The project has 1.7 million square feet of saleable area and a gross development value of nearly Rs 1,750 crore.
Prestige Parklane will feature four acres of landscaped green space and a 30,000-square-foot clubhouse.
Prestige Estates shares ended Friday at Rs 1,477.80, after falling nearly 9% in one month but gaining more than 21% over six months.
- Who
- Prestige Estates, with comments from Prestige Group Chairman and Managing Director Irfan Razack.
- What
- A Rs 1,750 crore residential project named Prestige Parklane was launched.
- Where
- Devanahalli in Bengaluru, along the Satellite Town Ring Road in North Bengaluru.
- When
- The launch was reported before the company’s shares ended Friday’s trading session; no specific launch date was provided.
- Why
- The company said the project is intended to offer well-connected homes in a rapidly developing Bengaluru growth corridor.
Key facts
- Project
- Prestige Parklane
- Estimated value
- Nearly Rs 1,750 crore
- Location
- Devanahalli, Bengaluru
- Site area
- 11.91 acres
- Homes
- 1,788 homes across nine towers
- Saleable area
- 1.7 million square feet
- Amenities
- Four acres of landscaped green space and a 30,000-square-foot clubhouse
Quotes
Prestige Estates
Real estate development company Prestige Estates, speaking in an exchange filing
“With Prestige Parklane, we are bringing our development expertise to the STRR–Devanahalli micro-market through a thoughtfully planned residential community that combines a well-connected location, a diverse range of home configurations and extensive lifestyle amenities.”
financialexpress.com
“Located just 2 minutes from the STRR, the project benefits from its position within one of Bengaluru’s rapidly developing growth corridors, with access to the wider northern Bengaluru region and the city’s expanding infrastructure network.”
financialexpress.com
Sources
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