India, April 10 -- Bengaluru-based Prestige Estates Projects Limited has entered into a joint venture with ABIL Group, active in Pune and Mumbai, to develop a premium housing project in Versova, with an estimated revenue potential of over Rs.9,000 crore.

According to the company, the development rights for the project in the Aaram Nagar area of Versova are with Aaramnagar Realty LLP

"The development spans a land area of approximately six acres and offers a total development potential of around 1.7 million square feet (RERA area), with an estimated Gross Development Value (GDV) of over Rs.9,000 crores," the company said in a statement.

The company said the proposed development is intended as a premium residential project catering to the...