Chennai-based real estate developer Arihant Foundations & Housing has acquired a prominent 3-acre land parcel on MGR Salai, Perungudi, at the gateway to the city's rapidly growing IT corridor along Old Mahabalipuram Road (OMR). The company plans to develop a premium residential project on the site, with a proposed built-up area of 0.7 million square feet and an estimated Gross Development Value (GDV) of Rs 12 billion.

The project is currently awaiting final regulatory approvals before its official launch. Arihant is expected to announce the construction timeline in the coming months.

Located within walking distance of more than 15 million square feet of high-grade office space—including Global Infocity Park, Brookfield Millenia Park, and DLF Downtown—the site is positioned as a prime residential destination for professionals working in Chennai’s IT sector.

The upcoming development will feature modern apartments, lifestyle amenities, and open green spaces, addressing the growing demand for quality housing in the area.

With over four decades of experience, Arihant Foundations has delivered more than 25 million square feet of real estate projects across Chennai.