Prestige Group has acquired a 2.35-acre land parcel in Mumbai’s Mulund (West) for ₹110.75 crore, marking a significant expansion of its development pipeline in the country’s most expensive property market.

Transaction Details

The transaction was executed through Prestige Mulund Realty Pvt Ltd, which acquired the property from Shamvik Glasstech Pvt Ltd and General Glass Company Pvt Ltd. The deal was registered on July 16, with the buyer paying stamp duty of ₹6.64 crore.

Land area: 2.35 acres
Existing built-up structure: 4,638.06 square metres
Car parking spaces: 28
Stamp duty: ₹6.64 crore

Mulund: A Growing Market

Mulund has witnessed sustained interest from developers in recent years, driven by improving connectivity through the Eastern Express Highway, upcoming Metro corridors, and limited availability of large, developable land parcels.

Prestige Group's Expansion in Mumbai

The acquisition comes as the Bengaluru-based developer continues to expand its presence in the Mumbai Metropolitan Region through outright land purchases, redevelopment projects, and joint development agreements. Mumbai has emerged as one of the company’s key growth markets as it looks to diversify beyond its stronghold in southern India.

Market Trends

Land transactions have gathered pace across Mumbai over the past year as developers seek to replenish project pipelines amid healthy residential sales. Outright acquisitions, joint ventures, and redevelopment deals have increasingly become part of developers’ growth strategies, particularly in established suburban markets.

The latest acquisition is expected to further strengthen Prestige Group's portfolio in the eastern suburbs, providing a boost to the company's growth plans in the Mumbai market. For Indian homebuyers and investors, this deal highlights the continued demand for residential projects in key markets like Mumbai, driven by improving infrastructure and limited land availability. via etrealty

Mulund

Prestige Group Acquires 2.35-Acre Land in Mumbai's Mulund