Prestige Estates Projects' CEO Venkata Narayana K Steps Down

By Sandeep Sadh
May 21, 2024

Venkata Narayana K, the chief executive officer (CEO) of realty firm Prestige Estates Projects, has resigned from his position to pursue personal endeavors. Venkata, who took on the role of CEO in August 2017 after serving in various capacities for 20 years within the company, tendered his resignation from the CEO position and board committees effective May 10, 2024. The board accepted his resignation during a meeting held on Friday, but Venkata will remain with the company as a non-key managerial personnel (KMP) to ensure a smooth transition until August 10, 2024.

Before assuming the role of CEO, Venkata held positions such as Chief Financial Officer and Company Secretary within the company. In his resignation letter, he expressed his intention to pursue other interests, including the establishment of a Real Estate Fund.

Chairman & Managing Director Irfan Razack outlined the company's strategic roadmap by appointing various business heads for different verticals and geographies. Amit Mor is appointed as CFO, Swaroop Anish as the Executive Director & CEO Residential Segment & Business Development, Juggy Marwaha as CEO Office Segment, Muhammed Ali is CEO of the Retail Segment, and Suresh Singaravelu as the Executive Director & CEO of the Hospitality Segment. Tariq Ahmed is assigned as Executive Director & CEO of West India, Faiz Rezwan as Executive Director overseeing construction and execution of projects, Zayd Noaman as Executive Director overseeing business development and corporate finance, and Uzma Irfan as Director responsible for corporate communications, marketing, and branding strategies. Sana Rezwan, as Executive Director, will focus on charting the growth trajectory for North India, particularly the NCR.

Prestige Estates Projects is recognized as one of the prominent real estate developers in the country, operating across various segments of the sector in major cities.

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About the author

Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Builders jack up rates with market handle - The Indian Express
REALTY PLUS ORGANIZES THREE OF ITS FLAGSHIP EVENTS AT HOTEL TAJ SANTACRUZ MUMBAI - Exchange 4 Media/Realty Plus
Need'nt hurry yet to buy that new flat - The Indian Express
More luxury homes than city needs - The Indian Express
Don't wait to buy a home; prices won't drop - Rediff
Make real estate deals more transparent - Money Control
Real estate market could recover by Diwali - The Economic Times
Energy-efficient buildings increase return on your realty investment - The Economic Times
Should you buy property in a religious location? - The Economic Times
Are you paying a higher maintenance bill for housing society? - The Economic Times
Developers Are Rolling Out Offers. Homebuyers, Read The Fine Print Carefully - Bloomberg/Quint
Hot property destinations of 2007 - Rediff
Piramal's big bet - Business Today
Are you buying a 'safe' house? - Magicbricks

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

Residential Leasing
Commercial Leasing
Residential Home Buying
Commercial Property Buying
Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

Drafting of the Leave and License Agreements
MOU for Buying/Selling Properties
Drafting Agreement for Sale
Gift Deeds
Computing of Capital Gains with current ready reckoner values
Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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Prestige Estates Projects' CEO Venkata Narayana K Steps Down