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Company Name : The Prestige Group

Wednesday, August 1, 2018 10:20AM IST (4:50AM GMT)

(NSE:PRESTIGE)

The Prestige Group Along With MRG Group Inaugurates Phase 1 of Disney-Themed Prestige Lakeside Habitat


Bengaluru’s first and only Disney themed premium residential township development


Bangalore, Karnataka, India

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  • Mrs.Mrs. Shetty - Wife of Mr. Prakash Shetty - Chairman, MRG Group inaugurates the property as Mr. Irfan Razack - CMD, Prestige Group looks on
 
  • Largest residential development by the company till date, in terms of acreage and the total number of residences
  • The 102-acre property is the biggest upcoming residential township development in the country today
  • The Prestige Group completes 100mn sft of development with the inauguration of this property
The Prestige Group in association with the MRG Group inaugurated Phase 1 of Prestige Lakeside Habitat - Bengaluru’s first and only Disney themed premiere residential township development, overlooking the scenic Varthur Lake on Whitefield- Sarjapur road. The event was a fairy-tale experience, quite literally, given the unique theme of the property. It included an experiential walkthrough and was a memorable day especially for children with several fun activities lined up for them, apart from fairies and Disney characters roaming around the property entertaining them.
 
Speaking on this momentous occasion, Mr. Irfan Razack - CMD –Prestige Group said, “At Prestige, we have always strived to raise the bar with every new project we create, to ensure that we offer something unique to our homebuyers. We understand that buying a home is as much about aspirations, as it is about affordability, amenities and accessibility. Today, with increasing global exposure and incomes, homebuyers are keen to invest in bespoke and one of its kind homes. The Bengaluru real estate market is one of the fastest growing in terms of the number of apartments available for sale in the country. Prestige Lakeside Habitat is a result of our team’s creativity-centric vision. As we welcome our homeowners today, we hope that they enjoy living on this beautiful property.”
 
Moreover, this property is even more special as with the inauguration of Prestige Lakeside Habitat, the Prestige Group has officially completed 100mn sft of development which is a very significant milestone for the group,” he added.
 
Mr. Prakash Shetty – Chairman, MRG Group said, “In my 25-year long career in the Hospitality and Real Estate Industry, I have witnessed many interesting and unique ventures being planned for the discerning consumers. Through my career, I have partnered with a few developers, but I can confidently say that my association with the Prestige Group for this particular property has been one of the best. Mr. Irfan Razack’s vision is to provide the best possible lifestyle to his clients. As the owner of the MRG Group and partner on this land, I had planned the available FSI at 3 but he convinced me otherwise and concluded the project at 1.5 FSI, which is only 20% ground coverage, thus ensuring that the residents have picturesque views and open green spaces to enjoy within the property. I have had the opportunity to be a part of this project from its inception and in my experience, this is one of the best projects that I have ever seen.”

About Prestige Lakeside Habitat
 
The 8-million sft development is located right at the heart of the city’s biggest IT hub, overlooking Varthur Lake. The property is ideally located in close proximity to all prominent international schools, colleges and hospitals in the vicinity of Sarjapur.
 
Prestige Lakeside Habitat has many unique experiences to offer its residents. Its salient features include:

  • 3697 units of 1, 2, 2.5, 3, 3.5 and 4 bedroom apartments and villas (3,426 apartments and 271 villas)
  • Four expansive clubhouses
  • Four swimming pools
  • Mini golf course
  • Dedicated and child-proofed children’s play areas
  • Skating rink
  • Cricket pitch
  • Tennis, badminton and basketball courts
  • Amphitheatre
In keeping with Prestige’s vision of offering its patrons wide open spaces to reside in, over 80% of the total property area has been landscaped to provide a natural thriving green cover.
 
Every home and building has been thematically named after Disney creations, adding a little bit of magic to everyday living. The developers have ensured that the Phase 1 launch comes with occupancy certification, which means homebuyers can move in the day they buy the property.

About Prestige Group
 
Prestige Group has over 30 years of experience in real estate development, and is one of the leading real estate developers in the country with interests in Residential, Office Space, Retail and Hospitality segments with operations across South India, Pune, Goa and Ahmedabad. It has completed 212 real estate projects with development potential of over 84 mn sft. Prestige has 57 ongoing projects across segments, with total developable area of 62 mn sft. It also has 44 mn sft of upcoming projects and holds a land bank of 484 acres with potential developable area of over 47 mn sft. The company has been rated CRISIL DA1 by CRISIL and also enjoys credit rating of ICRA A+.
 
Social Media:
Website: www.prestigeconstructions.com
Twitter: @prestigegroup
LinkedIn: https://in.linkedin.com/company/prestige-group-bangalore
Facebook: https://www.facebook.com/Prestige.group/


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News Summary

The Prestige Group in association with the MRG Group inaugurated Phase 1 of Prestige Lakeside Habitat - Bengaluru’s first and only Disney themed premiere residential township development, overlooking the scenic Varthur Lake on Whitefield- Sarjapur road. The event was a fairy-tale experience, quite literally, given the unique theme of the property.