Prestige Group Acquires 2.35-Acre Land Parcel in Mulund West, Mumbai for ₹110.75 Crore
Strategic Land Acquisition Strengthens Prestige's Mulund Footprint
Prestige Group has expanded its footprint in the Mumbai real estate market by acquiring a 2.35-acre land parcel located in Mulund West. The company completed the transaction on July 16, 2026, for a total consideration of ₹110.75 crore.
Deal Structure and Sellers
The acquisition was completed through its subsidiary, Prestige Mulund Realty Pvt. Ltd., which purchased the property from Shamvik Glasstech Pvt. Ltd. and General Glass Company Pvt. Ltd. Prestige Mulund Realty paid a stamp duty of ₹6.64 crore for the deal.
The acquisition was structured through a combination of cash consideration and apartment allotments. According to CRE Matrix, the total consideration for the transaction is ₹110.75 crore, with ₹80 crore paid upfront. The remaining ₹30 crore consideration will be settled through 14 apartments and 28 car parking spaces. These are provided free of cost in The Prestige City, Mulund.
Property Details
The acquired property includes a 2.35-acre plot with an existing built-up structure measuring 4,638.06 sq. m., along with 28 car parking spaces.
Strategic Positioning in Mulund West
The acquisition allows Prestige Estates to consolidate its presence in one of Mumbai's established suburban markets, where demand for large-scale integrated developments continues to grow. Mulund has gained traction among developers and homebuyers due to its connectivity, green surroundings, and availability of large land parcels compared with several other Mumbai suburbs.
Located near the foothills of Yogi Hills, The Prestige City benefits from the area's established residential ecosystem and improving infrastructure. According to local brokers, residential property prices in the micro-market currently range between ₹25,000 and ₹35,000 per sq ft.
The Prestige City Context
The Prestige City, Mulund, is one of the company's key residential developments after entering the Mumbai market in 2022. Spanning over a stunning 32.71 acres of land, this luxury project of the Prestige Group boasts state of the art amenities that offer a futuristic lifestyle.
The newly acquired parcel could provide Prestige Estates with additional development potential around its existing township.
Prestige's Mumbai Expansion Strategy
The latest acquisition strengthens Prestige Group's presence in the Mumbai Metropolitan Region (MMR), where the Bengaluru-based developer has been expanding through outright land purchases, redevelopment projects, and joint development agreements. With a massive land bank exceeding 728 acres, Prestige Realty Mumbai ensures a robust pipeline of future-ready developments.