Bengaluru-based real estate developer Prestige Group plans to launch its largest township in Hyderabad, The Prestige City, with a sales potential of upwards of Rs 8,000 crore.

The project, located in Rajendranagar, spannning 64 acres will have 4,647 apartments, 119 luxury villas, and a retail mall. investment for the project is about Rs 5,000 crore, and the inventories are scheduled to be handed over in 2027.

The total development of the apartments and villas will be 10.5 milion sq. ft. (msf), with apartments occupying about 9.7 msf. The retail mall space will occupy over one lakh sq ft. The ticket sizes for the apartments will start at Rs 79 lakh and will go up to Rs 2.5 crore for the four-BHKs.

The project is 15 minutes away from the airport and about 30 minutes from Gachibowli and Hitech City areas. The RERA approvals for the residential segment have already been obtained and the excavation work is currently on. The Group is also planning, for the first time, to launch the project in Metaverse to provide a visual experience to the homebuyers, which will cover aspects including amenities and landscaping. The Prestige City will see 13 towers rising to G+41 floors.

While the real estate sector has grown by 30-40 percent, the volumes have nearly doubled in Hyderabad, and on an average, the target homebuyers are the IT population and large-scale small business segment in the older city.