- The fourth virtual property launch in as many months by India’s leading real estate developer heralds growing customer confidence and Indian realty’s steady path to recovery.
- Three inaugurations of completed developments – Prestige Leela Residences, Prestige Lakeridge and Prestige North Point Retail in Bengaluru, also took place on the same day
- Two more virtual property launches are in the pipeline this year
The initial steps after an unexpected pause often determine whether or not the momentum can be regained. Prestige Group, India’s leading real estate developer, has been strategically paving the way for recovery in the pandemic world with virtual property launches over the last few months. Two more virtual property launches are in the pipeline this year.
India’s first and only developer rated DA1 by CRISIL has announced the digital launch of its latest residential project – Prestige Tranquil in Hyderabad. Located in Kokapet – the up and coming suburb that is easily accessible from the airport as well as the financial district – this spacious, self-contained, aesthetic enclave of 906 three-bed, high-rise homes offers an exceptionally sustainable residential community in The City of Pearls.
Commenting on the launch, Mr. Irfan Razack - CMD, Prestige Group said, “It is not the strongest of the species that survive, nor the most intelligent, but the one most adaptable to change. This quote is often wrongly attributed to Charles Darwin’s Origin of Species. Nonetheless, the wisdom in these words is unquestionable. The last few months have tested us in extraordinary ways, and the only way to emerge stronger from this crisis is to look at the situation as an opportunity to learn and grow. With over 35 years of market leadership, Prestige Group is committed to help tap into the realty sector’s potential to become an engine of growth for the Indian economy during this challenging time. Since we announced our first virtual launch in August, we are witnessing a steady recovery process, particularly in the residential segment.”
“The City of Nizams holds a dear place in my heart and I’m very excited about Prestige Tranquil, our fifth residential project in the city. Great connectivity and social infrastructure have ensured that the realty sector in Hyderabad continues to perform consistently well to claim its place among the top three real estate markets in India. This festive season offers the perfect opportunity to invest in real estate, and we have been witnessing a surge in demand from both resident Indians as well as NRIs looking to invest in residential properties in the country. I truly believe that we are well poised on the path to recovery.”
According to a recent report by JLL, Hyderabad’s real estate showed a 76 per cent increase in residential sales in the third quarter of 2020 as compared to the previous quarter. Prestige Group’s earlier residential projects in Hyderabad include Prestige High Fields, Prestige Ivy League, Prestige Nirvana and Prestige Royal Woods.