Prestige Group and Arihant Group Jointly Acquire Land Parcel in Chennai, Adding GDV of ₹ 5,000 Crores

Prestige Group, one of India’s leading real estate developers, and Arihant Group, a reputed Chennai-based real estate company, have jointly acquired a prime 16.331 acre land parcel in Padi, Chennai. The acquisition has been undertaken through Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations and Housing Ltd. The land parcel is proposed to be developed into a premium residential project with a total saleable area of about 3.6 million square feet and an estimated revenue potential of approximately ₹ 5,000 crore. Strategically located in Padi, in close proximity to Anna Nagar, one of Chennai’s most sought-after residential micro-markets, the site benefits from a well-established ecosystem, including strong social infrastructure and connectivity.