Business Wire India
Close on the heels of Finance Minister Nirmala Sitharaman’s lauded stimulus package to revive growth, Prestige Group inaugurated four residential and one commercial property in Bengaluru. Contrary to popular perceptions of a slowdown in the real estate market, the Bengaluru-based developer has consistently completed projects in the stipulated timeframe, suitably met customer expectations, and retained a good momentum of growth.
Commenting on the latest launches, Mr. Irfan Razack – Chairman & Managing Director, Prestige Group
, said, “Our growth trajectory in residential real estate has been very strong. Earlier this year, when we launched Prestige Elysian, a residential apartment project in Bengaluru, it was met with a resounding response, and we sold almost 1/3rd of the project immediately
. All our projects in Bengaluru and Hyderabad have garnered a positive response. We are now looking at new launches in Mumbai and National Capital Region (NCR) as part of our strategy to enter new geographies in the residential as well as office space. I believe that our past performance, prime locations as well as efficient pricing have helped strengthen our market position.”
“With the government assuring more credit support to developers and working on positive policy reforms, such as Real Estate Regulation and Development Act, 2016 (RERA) and the Goods and Service Tax (GST), there is immense scope for development and investment opportunities for the real estate sector today. The launch of the country’s first real estate investment trust (REIT) in March has paved the way for newer avenues. The outlook is undoubtedly bullish. Prestige has multiple launches lined up this year, spanning close to 10 million sq ft across businesses,” he added.