Prestige Arm Buys Mulund Land for 110.75 Crore

Prestige Estates' subsidiary has acquired over 2 acres of land in Mumbai's Mulund for ₹110.75 crore, expanding its land bank adjacent to the Prestige City township for future residential development.

Prestige Estates Projects Ltd.'s subsidiary company has further enhanced its footprint in the city of Mumbai with the purchase of an expansive plot measuring 9,497.30 sqm (more than 2.3 acres) in Mulund West for Rs.110.75 crore. The said deal has been made via Prestige Mulund Realty Private Limited, which is another property adjacent to their Prestige City Township.

The new site that has been purchased is located in close proximity to the township under construction by the company, which covers more than 30 acres of land near Yogi Hills in Mulund West. According to industry experts, the new purchase is expected to facilitate the expansion of the township, either through additional residential developments or some other developments.

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Based on property registration papers, the property transaction has been registered on July 16, 2026, wherein the amount paid by Prestige for stamp duty is approximately ₹6.64 crore. The property purchased consists of 9,497.30 sq. metres of land, along with the presence of an industrial building, which has a constructed area of 4,638.06 sq. metres. Thus, the cost per sq. metre of the land acquired comes to ₹1.17 lakh.

The parties to the transaction include Shamvik Glasstech Private Limited and General Glass Company Private Limited that had established themselves in industrial activities at the location earlier. The property was part of a larger industrial property earlier and has been sub-divided into its current plot.

The acquisition is in line with the strategic plan of Prestige Estates to add to their land bank in important metropolitan locations. Mulund has developed into one of the most desirable residential micro-markets in Mumbai due to the improvement in infrastructure and connectivity as well as the potential for redevelopment of the area.

The project by Prestige city in the Mulund area is one of the largest residential developments in Mumbai by the Bengaluru-based developer. Spanning over an area of about 32.7 acres, the integrated project consists of multiple clusters of tall residential towers with 2,761 apartments in total spread across six towers of up to 54 floors each.

This latest addition is in line with Prestige Estates' expanding influence in the real estate markets of major cities in India such as Mumbai, Bengaluru, Hyderabad, Chennai, and the National Capital Region. The firm has made great efforts in purchasing new plots of land and developing premium residential projects to ensure future growth.

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According to industry analysts, the deal is an indication of the confidence that leading developers have in the residential market in Mumbai, especially in the suburbs where there is good infrastructure and prospects for redeveloping the area. Developers are increasingly purchasing adjacent plots of land to develop their existing townships.

The acquisition of the Mulund land plot by Prestige Estates gives the company another edge in one of Mumbai's most rapidly developing residential belts. This land is anticipated to increase the possibility for future development of the Prestige City Township while ensuring that Prestige Estates remains committed to the Mumbai property market in the long term.