Joint Venture26 Mar 2026, 07:27 pm
Prestige Group and Arihant Group Jointly Acquire Land Parcel in Chennai, Adding GDV of ₹ 5,000 Crores
AI Summary
Prestige Group and Arihant Group have jointly acquired a 16.331 acre land parcel in Padi, Chennai, through Canopy Living LLP. The land 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 crores. The site is strategically located and benefits from a well-established ecosystem, including strong social infrastructure and connectivity. This transaction is among the largest land deals in Chennai over the past decade and is expected to redefine the residential landscape of the micro-market.
Key Highlights
- Prestige Group and Arihant Group jointly acquire a 16.331 acre land parcel in Padi, Chennai
- The land is proposed to be developed into a premium residential project with a total saleable area of about 3.6 million square feet
- The project has an estimated revenue potential of approximately ₹ 5,000 crores
- The site is strategically located near Anna Nagar, one of Chennai’s most sought-after residential micro-markets
- This transaction is among the largest land deals in Chennai over the past decade