PRESTIGE SIGNS ₹4,200 CRORE JDA IN GURUGRAM SECTOR 92

Prestige Estates Projects Limited has officially entered the Gurugram market. The Bengaluru-headquartered developer has signed a Joint Development Agreement (JDA) for a 17.212-acre land parcel in Sector 92, Gurugram, to be developed as a premium residential community with a saleable area of approximately 3 million sq ft, located close to the Dwarka Expressway. The announcement was made through a regulatory filing on April 1, 2026, confirming Gurugram's next major residential development along the Dwarka Expressway which Prestige Estates planned to develop.

The deal carries serious financial weight. The estimated Gross Development Value (GDV) and revenue potential of this project is approximately ₹4,200 crore, making it one of Prestige Estates' largest single-project revenue targets in the NCR region. The land itself belongs to an established local partner: the land belongs to Sare Gurugram Pvt Ltd, a joint venture between Eka, KGK, and Dhoot groups. Under the JDA structure, no land was purchased outright — this is a revenue-sharing partnership, which allows Prestige Estates to deploy capital strategically while landowners benefit from the group's formidable execution capabilities.

Location is central to why this deal matters. Sector 92 sits in what industry trackers call New Gurgaon's growth belt. The site is located adjacent to Dwarka Expressway and Pataudi Road, and per early project data, connectivity includes Dwarka Expressway at 5 minutes, NH-48 accessibility, IGI Airport at 25-35 minutes, and Cyber City at 15-20 minutes. Industry commentary notes that Sector 92 falls within New Gurgaon's broader growth belt, a zone that has steadily gained attention because of improving road connectivity, expanding residential catchment, and the gradual strengthening of social infrastructure.

This is not Prestige's first NCR move, but it is its first in Gurugram specifically. Prestige launched its first NCR project — The Prestige City in Indirapuram, Ghaziabad — in May 2025, achieving ₹3,000 crore-plus in sales in the first week across 1,200 units, with the first phase booking over ₹8,000 crore from an ₹11,000 crore inventory. That track record matters for buyer confidence in the new Gurugram parcel, since Delhi-NCR now accounts for 45% of Prestige's total national sales — higher than its home market Bengaluru.

On the corporate side, Chairman Irfan Razack signalled this is only the start of a wider NCR push. He is quoted saying the group is "already working on proposals in Gurgaon, Delhi, and Noida" and that the company is committed for the long haul. This aligns with the group's broader momentum: Q1 FY26 sales bookings hit ₹12,126 crore, representing 300% year-on-year growth and a new record for quarterly sales bookings, while as of December 2025, Prestige Estates has delivered 313 projects spanning 206 million sq ft across India and maintains an active pipeline of 128 projects covering 195 million sq ft.

For prospective buyers, early market analysis suggests the project will target the mid-to-premium segment rather than ultra-luxury. Reports indicate configurations of 2 BHK (1,100 sq ft from ₹1.43 crore), 3 BHK (1,500 sq ft from ₹1.95 crore), and 4 BHK (2,400 sq ft from ₹2.60 crore), based on an expected launch rate of ₹13,000 per sq ft. Analysts frame this as a direct challenge to established Gurugram players: Prestige is competing with Signature Global and Elan in the ₹1-3 crore segment — but bringing national brand credibility that neither can match.

Buyers should, however, treat pricing and configuration details as indicative rather than final. As one market tracker cautions, right now this is a land-plus-development announcement with broad project economics, not a fully revealed launch deck — confirmed details are land size, location, JDA structure, estimated saleable area, and revenue potential, while launch pricing, unit mix, floor plans, possession schedule, clubhouse detail, and phase-wise rollout are not yet clearly disclosed. RERA registration is also pending: RERA has not yet been filed, with launch expected mid-2026, and buyers are advised not to pay beyond a refundable EOI before RERA is confirmed.

The bigger takeaway for the Gurugram market is momentum. A JDA of this scale by a CRISIL-rated national developer is being read as validation of Sector 92's long-term potential, and could nudge other large developers eyeing the corridor to accelerate their own plans in the area.