Prestige Estates, Century in talks to develop Rs 600-crore property

Bengaluru asset has a development value of Rs 12,000-14,000 crore

Prestige Estates is in advanced stages of signing a joint development deal with Century Real Estate for a 16-acre land parcel in the capital city of Karnataka, according to a source in the know.

The parcel, owned by Century, is located in Hebbal area of Bengaluru and is valued at around Rs 600 crore, sources said. The land has a development value of Rs 12,000-14,000 crore, sources said.

The plot has a developable area of 3 million sq. ft, sources said, adding that Century would get 1.1 million sq. ft and a certain amount of money and balance for Prestige, which will