PRESTIGE TURF TOWER HANDOVER COMPLETE

Prestige Estates Projects Limited has announced a key milestone in Mumbai's redevelopment landscape. Prestige Estates Projects Limited has announced the completion and handover of the Prestige Turf Tower in Mahalaxmi, Mumbai, marking a critical milestone in its flagship development, The Prestige, Mumbai. The tower sits on Dr. E Moses Road, directly overlooking the Mahalaxmi Race Course, and has been positioned as a Grade A commercial address in one of South Mumbai's most prime corridors.

What makes this handover significant is not just the building itself but what it unlocks. The 0.64 million square foot tower serves as the rehabilitation component of the project and paves the way for the next phase of construction on the main luxury towers. In Mumbai's redevelopment-driven real estate market, rehab towers are a mandatory first step before a developer can commence work on the sale component of a project. Its handover will facilitate the relocation of existing residents and clear the path for luxury high-rise construction—a common requirement in redevelopment-led projects in Mumbai.

With this box ticked, Prestige can now move to full-scale construction on the Mahalaxmi land parcel. The completion of this phase clears key regulatory and logistical hurdles, allowing full-scale development to now commence on the prime Mahalaxmi land parcel. Irfan Razack, Chairman and Managing Director of Prestige Group, called it a turning point for the company's western India ambitions: "This is a strategic milestone for our Mumbai journey," said Irfan Razack, Chairman and Managing Director, Prestige Group. "With the successful completion of Turf Tower, we can now move forward with the iconic residential towers that will shape the skyline of Mahalaxmi."

The project itself is a 33-storey commercial landmark. Prestige Turf Tower is a 33-storey commercial landmark offering sweeping views of the Racecourse and city skyline. Floor plates were designed for flexibility, with the developer offering compact formats alongside larger plates. It will possibly be the only tower with smaller office formats, starting as small as 590 sqft, with each floor featuring 14-foot ceiling heights, 12 high-speed elevators, and warm shell offices equipped with A/C outlets, finished pantries, and private washrooms.

Turf Tower's completion did not come in isolation. It follows Prestige's first-ever residential deliveries in the city. This achievement follows Prestige's first-ever residential completions in the city—Jasdan Classic and Siesta @ TPC Mulund—delivered in the same quarter. Jasdan Classic is a boutique tower in Mahalaxmi itself, comprising 45-storey tower includes 233 high-end apartments across roughly 2 acres, while Siesta forms the residential debut of The Prestige City township at Mulund's Yogi Hills, with this premium 54-storey tower comprises 462 sky-lounge residences. Together, these three projects mark the developer's first tangible deliveries since entering Mumbai in 2022, with these developments collectively span 2.8 million square feet and mark the Group's debut delivery in the city since its Mumbai launch in 2022.

For homebuyers tracking The Prestige, Mumbai, the takeaway is straightforward: the rehabilitation obligation that typically delays redevelopment projects in the city is now behind Prestige on this site. The company has already flagged its next commercial phase on the same Mahalaxmi address — Prestige's iconic boutique office, blending global business infrastructure and premium hospitality — spread over Land Extent 5.5 Acres, Completion December 2028 with a development scale of 3 MN Sqft GLA. This signals Prestige is sequencing the larger Mahalaxmi land parcel in phases, commercial and residential, rather than a single monolithic launch.

For prospective buyers of the eventual luxury residential towers, the Turf Tower handover is the clearest signal yet that construction mobilisation on the main towers can begin without the usual rehabilitation-linked delays that plague South and Central Mumbai redevelopment projects. Prestige has indicated it now intends to move directly into building the residential component that will anchor its Mahalaxmi ambitions.