Prestige Group, via its joint venture Canopy Living LLP, has acquired a prime 16.33-acre land parcel in Padi, Chennai. The site is slated for a premium residential project with an estimated ₹5,000 crore Gross Development Value (GDV), marking a significant expansion for Prestige in Chennai's upscale housing market.

Prestige Group JV Acquires Prime Chennai Land for ₹5,000 Crore Project

Prestige Group, through its joint venture Canopy Living LLP, has secured a significant 16.33-acre land parcel in Padi, Chennai. The company plans to develop a premium residential project on the site, which is projected to generate a Gross Development Value (GDV) of ₹5,000 crore.

This strategic acquisition signals Prestige Group's intensified focus on the Chennai real estate market, identified as a key growth corridor for the company. The high GDV for the planned development, which is expected to offer 3.6 million square feet of saleable area, represents a significant addition to Prestige's development pipeline and future revenue potential.

Prestige Group, a leading Indian real estate developer, has a substantial history of project delivery. As of December 2025, the company had completed 313 projects spanning 206 million square feet. Prestige also maintains a strong pipeline of 128 ongoing projects covering 195 million square feet.

The joint venture partner, Arihant Group, contributes its own development experience, having delivered over 25 million square feet of projects.

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