Prestige Group Acquires 25-Acre Land Parcel in Medavakkam, Chennai, Boosting Development Pipeline
Prestige Group, one of India’s leading real estate developers, has announced the acquisition of a 25-acre land parcel in Medavakkam, Chennai. This acquisition marks another significant business development milestone for the Group and reinforces its long-term commitment to the Chennai real estate market. The site is proposed to be developed into a large-format project, offering a development potential of approximately 5 million square feet and an estimated top-line revenue potential of over 35,000 crore. Medavakkam is a rapidly developing residential micro-market in Chennai, benefiting from proximity to the OMR IT corridor, improving road infrastructure, and upcoming metro connectivity. The project will be planned and executed in line with Prestige Group’s established standards for design, quality, and timely delivery.
Key Highlights
- Prestige Group acquires a 25-acre land parcel in Medavakkam, Chennai
- The site is proposed to be developed into a large-format project with a development potential of 5 million square feet
- The acquisition aligns with the Group's long-term view on Chennai as an important market
- Medavakkam is a rapidly developing residential micro-market with improving infrastructure and proximity to key employment hubs
- The project will be planned and executed in line with Prestige Group’s established standards for design, quality, and timely delivery