MOU
Prestige Group signs Agreement to Purchase 16.38-acre land parcel in Padi, Chennai
Prestige Group signs an agreement through its JV Canopy Living LLP to acquire a 16.38-acre land parcel in Padi, Chennai, near Anna Nagar, strengthening its residential and mixed-use development pipeline in prime urban locations.
Prestige Group, through Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations & Housing Limited, has signed an Agreement to Sell for the purchase of a land parcel measuring 16.381 acres located at Padi, Chennai.
The land parcel is strategically located in close proximity to Anna Nagar, one of Chennai’s most established and prime residential micro-markets, known for its strong social infrastructure, connectivity, and mature residential character.
The land parcel is strategically located in close proximity to Anna Nagar, one of Chennai’s most established and prime residential micro-markets, known for its strong social infrastructure, connectivity, and mature residential character.
This acquisition is aligned with Prestige Group’s strategy of strengthening its presence in high-quality urban locations, while maintaining a disciplined approach to capital allocation.
Prestige Group continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development pipeline.
Prestige Group continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development pipeline.
Prestige Group is one of India’s most respected and diversified real estate developers, with a legacy of almost four decades and a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As at September 2025, the Group has delivered 310 projects spanning 202mn. sft. and currently has a pipeline of 130 projects across 199 mn. sft.