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Prestige Estates Projects Ltd has entered into a joint development agreement for a 17.212-acre land parcel in Sector 92, Gurugram, to develop a residential project with an estimated revenue potential of INR 4,200 crore. The proposed development will have a saleable area of around 3 million sq ft. The land is owned by Sare Gurugram Pvt Ltd, a joint venture of Eka, KGK, and Dhoot. The move aligns with Prestige's strategy to expand its footprint in the National Capital Region, where housing demand remains steady, particularly in locations supported by improving infrastructure and long-term growth prospects.
Prestige Estates Projects Ltd has entered into a joint development agreement (JDA) in recent days to develop a 17.212-acre residential project in Sector 92, Gurugram, with an estimated revenue potential of INR 4,200 crore. The company disclosed the transaction in a regulatory filing, confirming that it has secured the land parcel through a partnership with the landowner. Advertisement
The land parcel is owned by Sare Gurugram Pvt Ltd, a joint venture involving Eka, KGK, and Dhoot Group entities. Under the agreement, Prestige will undertake the development of the project, which is planned to have a total saleable area of approximately 3 million sq ft. The scale of the project positions it as a sizeable residential development within the Gurugram market.
The proposed project is located in Sector 92, an emerging micro-market in Gurugram that has seen increasing residential activity in recent years. The area is supported by connectivity to key infrastructure corridors and is part of a broader expansion of housing supply across the city's peripheral sectors. Developers have been focusing on such locations where land availability allows for larger projects and integrated residential developments.
Company leadership indicated that the addition of this project aligns with its strategy of strengthening its presence in key markets, including the National Capital Region. It was conveyed that the company continues to adopt a calibrated approach to expansion, focusing on locations with improving infrastructure and long-term growth potential.
Representatives of the landowning entity noted that the parcel offers a development opportunity suited to large-scale residential planning. They indicated confidence in the developer's execution capabilities and approach to project design and delivery, particularly in markets with evolving demand dynamics.
Prestige Group has an established presence across multiple real estate segments, including residential, commercial, retail, and hospitality. As of late 2025, the company had delivered 313 projects spanning 206 million sq ft and maintains a pipeline of 128 projects covering approximately 195 million sq ft, reflecting a substantial development portfolio across key urban markets.
The Gurugram market continues to attract interest from developers due to sustained housing demand and infrastructure-led growth. Joint development structures such as this allow developers to expand their footprint without outright land acquisition, enabling capital-efficient growth while partnering with landowners for project execution.
The transaction underscores the continued focus of large developers on expanding in the National Capital Region through structured partnerships, particularly in emerging residential corridors where demand remains supported by urban expansion and connectivity improvements.
Source - PTI
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