Prestige Group in talks with TDI Infratech for joint development agreement in Delhi

Summary:

• Bengaluru-based Prestige Group is in advanced negotiations with TDI Infratech to enter into a joint development agreement.
• The agreement is for the development of a 5,100 square-yard residential property on Kasturba Gandhi Marg in Lutyens’ Delhi.
• The property, owned by TDI Infratech, has a mark value of ₹325-350 crore and an estimated revenue potential of ₹700 crore.
• Prestige Group may opt for eight-nine boutique apartments, marking its entry into Delhi’s residential market.

Bengaluru-based Prestige Group is in advanced negotiations with TDI Infratech to enter into a joint development agreement for a residential property on Kasturba Gandhi Marg in Lutyens’ Delhi, according to sources familiar with the matter. The property, owned by TDI Infratech, has a mark value of ₹325-350 crore and an estimated revenue potential of ₹700 crore.

Experts suggest that Prestige Group may choose to develop eight-nine boutique apartments on the property, which would mark its entry into Delhi’s residential market. This move would allow Prestige Group to expand its presence and cater to the demand for high-end residential properties in the city.