Prestige Estates Projects Limited has entered a joint venture with ABIL Group to develop a land parcel in Versova. The partners hold the development rights through Aaramnagar Realty LLP, and the site sits at Aram Nagar. The parcel covers roughly six acres and carries around 1.7 million square feet of RERA area, with an estimated gross development value above ₹9,000 crore. The partnership was announced on April 9, 2026, and it marks the group's entry into this part of the western suburbs.
For a buyer, the structure matters less than the scale. A parcel of this size in Versova allows a single-phase premium scheme rather than a series of small infill towers, and it places Prestige in the same residential corridor where ABIL Group has already built premium and hospitality projects in Pune and Mumbai.
Prestige's Mumbai presence is recent but deliberate. The group's first three completed projects in the city are Siesta at The Prestige City in Mulund, Prestige Jasdan Classic in Mahalaxmi and Prestige Turf Tower, also in Mahalaxmi. Siesta is a 54-storey tower with 462 residences, and Jasdan Classic is a 45-storey tower with 233 residences. Together these deliveries span 2.8 million square feet, and the group has described them as its debut deliveries in the city after a Mumbai launch in 2022.
The Versova parcel adds a western suburban address to that Mulund and Mahalaxmi base. Prestige has also been building beyond the city core, with Prestige Garden Trails launched in Dahisar-Mira Road and land acquired in Mira Bhayandar next to the Western Express Highway. Its office and mixed-use work includes the Prestige-Valour Office Campus in Andheri West, which places the group close to Versova in the same suburban belt.
The group itself has a long build record. Prestige was founded in 1986 by Irfan Razack and his brothers, and Prestige Estates Projects listed on the stock exchanges after its 2010 IPO. Across its portfolio, the company reported a pipeline of 128 projects covering 195 million square feet as of December 2025, which gives the Versova entry a clear place within a much larger national programme.
Versova has a settled residential base, and its appeal rests on a few concrete factors. The Versova Metro station is the area's main rail link, and the upcoming Dahisar extension is expected to add a second north-south connection. The Coastal Road project is also cited as a factor in the locality's long-term connectivity. Kokilaben Dhirubhai Ambani Hospital lies roughly four kilometres away, which places a major private hospital within practical reach of the site.
The price picture depends on the source. Listing portals report widely different averages for the locality, from about ₹28,080 per square foot on one rate tracker to about ₹45,050 per square foot on 99acres, which also records a 17.8 per cent rise over one year. The ghar.tv guide places the overall average near ₹34,450 per square foot, with a typical range between ₹25,000 and ₹60,000. Demand is strongest for 2 BHK and 3 BHK apartments, which suits the family-sized configurations that a six-acre scheme is likely to offer.
Rental demand is another reason the area draws buyers. Local guides estimate gross rental yields of roughly 4 to 5 per cent, with tenants drawn from young professionals, expatriates and people working in the entertainment industry. Versova's beach frontage and its proximity to Andheri's commercial core add to its pull.