Sector 162 sits inside the Dwarka Expressway corridor of Gurugram, the same growth belt where Prestige Group has made its first confirmed land move in the city. The company has entered into a Joint Development Agreement for a 17.212-acre land parcel, strategically located in Sector 92, Gurugram, with close proximity to the Dwarka Expressway, positioned to benefit from the area's improving infrastructure, enhanced connectivity to key business districts, and growing residential demand. That deal, and the broader interest it signals in this stretch of New Gurgaon, is the immediate context for why a corridor sector like 162 has moved onto the radar of a developer that, until recently, was known almost entirely for its South Indian portfolio.
Prestige Group was founded in 1986 by Abdul Razack Sattar as an extension of his earlier retail business established in 1950, and is now led by his sons Irfan Razack as Chairman and Managing Director, along with Rezwan Razack and Noaman Razack. By September 2024 the group had 302 completed projects covering 193 million square feet of developed area, and it remains the only Indian developer to hold CRISIL's DA1+ rating for construction and development capabilities. That rating, reaffirmed through 2026 filings, has functioned as a credibility marker as the company has moved into markets outside its home base of Bengaluru, Chennai, Hyderabad, Mumbai, Kochi and Goa.
Prestige Group's push into Delhi-NCR did not begin in Gurugram. The Bengaluru-based developer's rapid Delhi-NCR expansion has been built on the near sellout of the first phase of its flagship project, The Prestige City in Indirapuram Extension, Ghaziabad, where it sold more than ₹8,000 crore worth of inventory out of a total ₹11,000 crore, prompting a second phase called MayFlower with a gross development value of around ₹2,200 crore. That response reshaped how the company weighs the region: Delhi-NCR had the largest share of Prestige Group's sales in the first half of FY26, with 45 per cent of total sales coming from the region, ahead of its established markets of Bengaluru and Mumbai.
Gurugram followed. The company entered into a Joint Development Agreement for a 17.212-acre land parcel in Sector 92, with a proposed saleable area of approximately 3 million square feet and an estimated Gross Development Value of around ₹4,200 crore. The deal, structured and negotiated with CMS INDUSLAW as legal advisor, is expected to unlock approximately 3 million square feet of development potential across a roughly 17.21-acre parcel acquired from SARE Gurugram, a joint venture between EKA-KGK and Dhoot. Commenting on the entry, Chairman and Managing Director Irfan Razack said the addition in Gurugram aligns with our broader strategy of strengthening our presence across key markets in the National Capital Region.
Sector 162 and Sector 92 sit on the same infrastructure spine. The expressway is now fully functional from Mahipalpur to Kherki Daula, metro connectivity through the Blue Line extension is confirmed for 2026-27, and schools, hospitals, and malls have started opening in the neighbouring Sectors 102, 103 and 104, with IGI Airport reachable in under 20 minutes. The Dwarka Expressway itself connects Gurugram directly to Delhi and other parts of the National Capital Region. For a corridor that was largely undeveloped land a decade ago, this combination of a functioning expressway, an approaching metro line, and operational commercial anchors is what has drawn national developers, Prestige among them, to commit capital here rather than to more built-out parts of the city.
Pricing along the corridor reflects that trajectory without having run away from fundamentals. Flat prices in Dwarka Expressway, Gurgaon are in the range of Rs 11,000-16,750 per square foot. Flat rates in the corridor changed by 12.0 per cent in the last year, 75.0 per cent over three years, and 152.3 per cent over five years. Separate tracking puts the average closer to ₹14,000 per sq ft, with the corridor bucking a broader Gurgaon correction to post 2.28 per cent appreciation even as some central micro-markets softened. That combination — steady multi-year appreciation alongside a recent stabilisation — is consistent with a market that has moved from speculative early-stage pricing to one absorbing genuine end-user and rental demand, the segment a CRISIL DA1+ rated developer with a delivery record is typically positioned to serve.
Prestige Group has not yet disclosed a project specifically at Sector 162 the way it has for Sector 92, where the JDA, land size, and GDV have all been confirmed through stock-exchange filings and legal advisories. What is established is the developer's intent to deepen its footprint along this exact stretch of Gurugram's Dwarka Expressway, backed by a Ghaziabad project that oversold its own inventory and an NCR business now generating a larger share of group sales than Bengaluru or Mumbai. For anyone tracking Sector 162 as a location, that is the more useful signal than any single project announcement: a nationally rated developer has already priced this corridor into its next phase of growth, and Sector 162's position within it — on the same expressway, within the same commuting radius to Cyber City and IGI Airport — places it inside the zone Prestige Group is actively building around.