NEW LAUNCH
Prestige Group Partners with ABIL to Launch ₹9,000 Crore Premium Versova Residential Project
Prestige Group has partnered with ABIL Group to develop a ₹9,000 crore premium residential project in Versova, Mumbai, with 1.7 million square feet of development potential. The project will be developed through Aaramnagar Realty LLP.
| Project Name & Location | Prestige Versova (Aram Nagar), Versova, Andheri West, Mumbai |
|---|---|
| Developer & Partnership | Prestige Estates Projects Limited in joint venture with ABIL Group through Aaramnagar Realty LLP |
| Land Area | Approximately 6 acres |
| Development Potential (RERA Area) | Around 1.7 million square feet |
| Gross Development Value | More than ₹9,000 crore |
| Likely Configurations | Premium 2, 3, and 4 BHK luxury apartments. Project is currently in pre-launch stage with prices listed as 'On Request' |
| Possession & RERA Status | Pre-launch stage; RERA filing not yet completed as of September 2026 |
| Announcement Date | April 10, 2026 |
Project Overview & Developer Strategy
Prestige Group, in partnership with ABIL Group, has announced a ₹9,000 crore premium residential development in Versova, Mumbai, spanning approximately 6 acres with a development potential of around 1.7 million square feet (RERA area).
The partners will proceed with detailed planning and regulatory processes. The project is currently in the pre-launch stage, with prices for 3 BHK, 4 BHK, and 5 BHK units listed as 'On Request' on the developer's official website.
Irfan Razack, Chairman and Managing Director of Prestige Group, noted that Mumbai remains a critical focus market and described the Versova project as a natural extension of the company's portfolio, aligning with their commitment to quality developments.
Configuration, Pricing & Possession
The premium development will feature thoughtfully planned 2, 3, and 4 BHK luxury apartments designed for modern urban living. However, a detailed price sheet and confirmed possession timeline have not yet been released. Standard practice at this early stage indicates that any informal details about configuration and pricing are temporary until the builder releases an official sheet with RERA approval.
No RERA registration number has been filed or announced as of September 2026.
Location & Connectivity
Versova is recognised for its strong social infrastructure, excellent connectivity, and proximity to major commercial hubs, making it a sought-after micro-market. The Versova–Andheri–Ghatkopar Metro Line offers rapid east–west connectivity, significantly reducing travel time to major business hubs like MIDC and the eastern suburbs.
The Bandra–Versova Sea Link (BVSL) is a 17.17 km engineering project that, once completed, will slash travel time between Bandra and Versova from 60+ minutes to just 10–15 minutes, providing a seamless, signal-free connection to South Mumbai. The link is expected to open in August 2027.
In recent years, real estate in Versova has seen strong growth, with property values rising by about 7-8% over the past year, driven by its location, infrastructure, and proximity to commercial hubs like Andheri.
Demand & Market Context
The development is planned as a premium residential project aimed at meeting the rising demand for quality housing in Mumbai's western suburbs. There is a massive appetite for sea-facing luxury apartments and modern redeveloped societies in Versova.
Versova has been identified by Prestige as a supply constrained micro market with strong social infrastructure, connectivity and proximity to commercial hubs. The Versova real estate market has seen a 5-year growth trend of 9.1%, with average prices around ₹28,080 per sq. ft. as of May 2025.
Developer Track Record
As of December 2025, the Prestige Group had delivered 313 projects spanning 206 million square feet and maintained a pipeline of 128 projects across 195 million square feet. Mumbai is now Prestige's largest single-market contributor by sales value, with Mumbai leading the geographic sales mix at 36% in Q3 FY26, ahead of Bengaluru at 25%, and Hyderabad and NCR each contributing 16%.
Frequently asked questions
What is the status of Prestige Versova as of September 2026?
The project is in pre-launch stage. RERA registration has not yet been filed.
What apartment sizes and configurations are expected?
The project is expected to offer 2, 3, and 4 BHK luxury apartments. Final configurations and sizes will be announced upon RERA filing and official launch.
Is the project RERA-approved or registered?
No RERA registration or approval has been announced as of September 2026. Any informal details about pricing and configuration are temporary until the builder releases an official sheet with RERA approval.
Why is Versova considered attractive for premium residential development?
Versova has been identified by Prestige as a supply constrained micro market with strong social infrastructure, connectivity and proximity to commercial hubs. The Bandra–Versova Sea Link, expected to open in August 2027, will reduce travel time between Bandra and Versova from 60+ minutes to just 10–15 minutes.
What is the estimated project cost and size?
The project has an estimated Gross Development Value (GDV) of more than ₹9,000 crore and a development potential of around 1.7 million square feet (RERA area). It is being built on a land parcel covering about 6 acres.