Prestige Group has recently signed an agreement to purchase a 16.38-acre land parcel in Padi, Chennai, through Canopy Living LLP, a joint venture between Prestige Estates Projects and Arihant Foundations & Housing.

The land parcel is strategically located near Anna Nagar, one of Chennai’s most established residential micro-markets, known for its strong social infrastructure, connectivity and mature residential character.

The acquisition aligns with Prestige Group’s strategy of strengthening its presence in high-quality urban locations while maintaining a disciplined approach to capital allocation.

The group continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development pipeline.