Prestige Group Acquires 16.38-Acre Land in Chennai via JV
Filing Summary
Prestige Estates Projects Limited, through its joint venture Canopy Living LLP with Arihant Foundations & Housing Limited, has signed an agreement to purchase a 16.38-acre land parcel in Padi, Chennai. The land is located near Anna Nagar, a prominent residential area. This acquisition aligns with Prestige Group’s strategy to expand its presence in urban locations. The company continues to explore land acquisition opportunities to support its development pipeline. Prestige Group has a portfolio of 310 completed projects and 130 ongoing projects across major cities.
Prestige Estates Projects Limited, through its joint venture Canopy Living LLP with Arihant Foundations & Housing Limited, has signed an agreement to purchase a land parcel measuring 16.38 acres located in Padi, Chennai. The agreement was finalized on January 8, 2026. The land is strategically positioned near Anna Nagar, a well-established residential micro-market in Chennai.
The acquisition is part of Prestige Group’s strategy to enhance its presence in high-quality urban locations. The company maintains a disciplined approach to capital allocation while evaluating land acquisition opportunities across key markets. This purchase supports Prestige Group’s future residential and mixed-use development pipeline.
Prestige Group has a legacy of nearly four decades in the real estate sector. The company has delivered 310 projects covering 202 million square feet and currently has a pipeline of 130 projects across 199 million square feet. The company’s portfolio spans residential, commercial, retail, hospitality, and integrated townships across major cities.
Arihant Foundations & Housing Limited is a partner in the joint venture Canopy Living LLP. The company focuses on residential and commercial real estate development, primarily in Chennai. Arihant is known for its commitment to quality and timely delivery of projects.
Prestige Group is one of India’s leading real estate developers. The company focuses on expanding its footprint in urban areas through strategic land acquisitions and project developments. Prestige Group aims to deliver high-quality projects across various real estate segments, including residential, commercial, and mixed-use developments.