Prestige Group, a leading Indian real estate developer, has announced a strategic partnership to develop a landmark residential project in Thane, Mumbai Metropolitan Region. The project, with an estimated GDV of ₹6,000 crore, will span approximately 14.6 acres and offer over 5 million square feet of developable space. This development signifies a major expansion for Prestige Group in one of India’s most dynamic real estate markets.
Prestige Group Announces Major Thane Development
Prestige Group, a prominent name in India’s real estate sector, has entered into a significant strategic partnership to develop a new landmark residential project in Thane, within the Mumbai Metropolitan Region (MMR). The announcement, dated July 29, 2026, highlights the company’s aggressive expansion strategy in key urban markets.
Project Scale and Investment
The ambitious project is set to span approximately 14.6 acres and carries an estimated Gross Development Value (GDV) of ₹6,000 crore. With a developable potential exceeding 5 million square feet, this venture is poised to become one of the largest residential developments in the Thane micro-market. The project aims to cater to a diverse range of homebuyers, including young professionals, first-time buyers, and growing families, complemented by a vibrant retail offering.
Strategic Location and Vision
Strategically situated near Kolshet-Balkum Road in Thane, the development benefits from excellent connectivity to major business districts, road networks, educational institutions, and healthcare facilities. Prestige Group emphasizes its commitment to quality, innovation, and customer-centric development, promising contemporary architecture, expansive landscaped spaces, world-class amenities, and sustainable design principles. Mr. Irfan Razack, Chairman & Managing Director, Prestige Group, commented, “This project marks another significant milestone in Prestige Group’s continued expansion in the Mumbai Metropolitan Region.”
Future Outlook
The collaboration combines Prestige Group’s extensive experience with the local market knowledge of its partner, aiming to create a destination that contributes meaningfully to Thane’s urban landscape. The project is expected to be developed in phases, pending the necessary statutory and regulatory approvals.
Source: BSE
