New Launch - India Real Estate Report 2026.
Prestige Mulund Realty Private Limited, an arm of Bengaluru-based Prestige Estates, has acquired a 9,497 sq metre factory plot in Mulund West, Mumbai, for a total consideration of ₹110.75 crore. The land, previously owned by Shamvik Glasstech and General Glass Company, sits adjacent to Prestige City, the developer's existing 30-plus-acre integrated township in the area. The transaction was registered on 16 July 2026, with stamp duty of ₹6.64 crore paid at the time of registration, according to property documents accessed by CRE Matrix.
A Part-Cash, Part-Apartment Deal
The structure of the transaction is notable. Of the ₹110.75 crore total, ₹80 crore was paid in cash, with the remaining ₹30 crore to be settled in the form of 14 apartments and 28 car parking spaces, free of cost, within The Prestige City, Mulund. Based on the land area, the deal works out to nearly ₹1.17 lakh per sq metre.
The existing structure on the acquired plot has a built-up area of 4,638 sq metres, and CRE Matrix noted that the additional parcel will most likely extend the township's footprint or enable a new phase of development.
Also Read: Prestige Group to Launch Two Delhi-NCR Projects Worth ₹7,000 Crore
What Prestige City Mulund Already Looks Like
The Prestige City, Mulund, was among Prestige Group's first major bets in Mumbai after entering the city's market in 2022. The township spans roughly 32.71 acres near the foothills of Yogi Hills in Mulund West, comprising approximately 2,761 homes across six towers of up to 54 floors, alongside retail and commercial components.
In May 2025, Prestige delivered Siesta, the township's first residential phase, marking one of the group's earliest project completions in the city.
Mulund West currently sees per sq ft prices ranging between ₹25,000 and ₹35,000, with monthly rents for 2 BHK apartments in older buildings running between ₹35,000 and ₹45,000, according to local brokers.
The acquisition of a contiguous factory plot at a time when the township is already delivering homes suggests Prestige is betting on sustained demand in the micro-market rather than consolidating its position and moving on.
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