Prestige Group Announces ₹6,000 Crore Thane Residential Project

Key Quantitative Figures

• The project has an estimated Gross Development Value (GDV) of ₹6,000 crore.
• The project land is spread across approximately 14.6 acres.
• The developable potential is over 5 million square feet.

Project Details and Location

The landmark residential project will be located in Thane, Mumbai Metropolitan Region (MMR), near Kolshet–Balkum Road. The location is noted for its excellent connectivity to key business districts, major road networks, educational institutions, healthcare facilities, and social infrastructure.

Project Features and Offering

The development will offer a mix of residences aimed at young professionals, first-time buyers, and growing families. It will be complemented by a vibrant retail offering to create a live-work-shop environment. The project will feature contemporary architecture, expansive landscaped open spaces, world-class lifestyle amenities, and sustainable design principles.

Partnership Structure

The project is being developed through a strategic partnership. The collaboration combines Prestige Group's experience in large-scale developments with the strong local presence and market knowledge of an unnamed local developer partner.

Management Commentary

Mr. Irfan Razack, Chairman & Managing Director of Prestige Group, commented that the project marks a significant milestone in the group's expansion in MMR. He cited Thane's emergence as a dynamic residential market, driven by infrastructure development and sustained housing demand. He reiterated the group's commitment to quality, design, timely delivery, and customer satisfaction, expressing confidence that the project would be well-received.

Development Timeline and Approvals

The project is expected to be developed in phases. The commencement and progression of the project are subject to obtaining the requisite statutory and regulatory approvals.

Company Background

As of March 2026, Prestige Group has delivered 316 projects spanning 212 million sq. ft. and has a current pipeline of 135 projects across 227 million sq. ft.