Prestige Group launches 620 homes worth Rs 2,200 cr for sales in Ghaziabad

New Delhi: Realty firm Prestige Estates Projects Ltd has launched 620 flats for sale in Ghaziabad with an estimated revenue of Rs 2,200 crore, as part of its strategy to expand business amid strong demand for premium residential properties.

In April this year, Bengaluru-based Prestige Estates entered the Delhi-NCR market with the launch of its 62.5-acre township project in Ghaziabad, Uttar Pradesh.

In the first phase of its township, 'The Prestige City, Indirapuram', Prestige Estates had launched two housing projects -- Oakwood and Mulberry, comprising 3,421 units with a total sales value of around Rs 9,000 crore.

The company has sold almost all units launched in the first phase, and has now launched the second phase, 'Mayflower', comprising 620 units.

Praveer Shrivastava, Senior Executive VP, Residential, Prestige Group, said the total estimated gross development value (GDV) of this new phase is around Rs 2,200 crore.