The Bangalore Based Prestige Group Acquires a 2 Acre Plus Plot of Land in Bhuleshwar, Mumbai for INR 704 crore

Bhuleshwar real estate

The Bengaluru-based Prestige Group acquired 2.3 acres of land in Bhuleshwar, Mumbai, from Marine Drive Hospitality and Realty Pvt Ltd, a subsidiary of DB Realty, for Rs 704 crore, according to documents obtained by CRE Matrix, a provider of real estate data analytics.

The buyer is responsible for paying Rs 42.24 billion in stamp duty on the deal. The exchange was recorded on April 18, 2023.

The Prestige Group has acquired the prominent sea-facing land parcel in Marine Lines, South Mumbai. Soon, Prestige will unveil two majestic structures with ultra-luxurious four-bedroom residences. These homes will have unobstructed views of the Queen's Necklace and Arabian Sea. The Prestige Group will expand its presence in Mumbai's prestige market as a result, according to Tariq Ahmed, CEO, West India, Prestige Group.

Prestige Group recently acquired Prestige (BKC) Realtors Private Limited and Turf Estate Joint Venture LLP from DB Group for a total of Rs 1,176 crore, according to a regulatory filing.