Arihant Buys Land in Chennai IT Hub for Rs 12 Bn Housing Project
Real Estate

Arihant Buys Land in Chennai IT Hub for Rs 12 Bn Housing Project

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.

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.

Next Story
Infrastructure Urban

Six Bidders Vie for Rs 572 Bn Jaiprakash Associates

The scramble to rescue Jaiprakash Associates Ltd (JAL), the flagship of the debt-laden Jaypee Group, reached a decisive stage on Tuesday as the window for resolution plans shut with at least six suitors in the fray. Industry sources say Adani Enterprises, Vedanta Group, Dalmia Bharat, Jaypee Infratech (backed by the Suraksha Group), Jindal Power and PNC Infratech have all lodged bids. Jaypee Infratech confirmed its submission but declined to reveal details.Lenders will open and assess the offers at a Committee of Creditors meeting today. Although bid values remain under wraps, the National Ass..

Next Story
Infrastructure Urban

Delhi Orders Urgent MAMC Hostel Repair and Safety Upgrade

Delhi Chief Minister Rekha Gupta has instructed multiple departments to overhaul hostel infrastructure and enhance student safety at Maulana Azad Medical College (MAMC). Chairing a high-level meeting at the Delhi Secretariat with Public Works Department, Health officials and student representatives, the Chief Minister demanded immediate repairs to ageing hostel blocks, new high-intensity LED lighting, round-the-clock CCTV coverage and a larger security presence.She also ordered a special drive to clear illegal encroachments around the campus and fast-track plans for an additional hostel, delay..

Next Story
Infrastructure Transport

Vikaspuri Road Upgrade, Tree Drive to Boost Delhi Constituency

Delhi’s Health and Transport Minister Pankaj Kumar Singh has broken ground on the long-awaited Baprola Village–Harphool Vihar road while leading a record plantation of 501 saplings under the “Ek Ped Maa Ke Naam” campaign. He said the two initiatives reflect the capital’s “people-centric governance”, promising safer, faster and more dignified daily life for residents.The rebuilt thoroughfare will ease commutes for Baprola Village, G-2 Jai Vihar, Prashant Enclave, Bajrang Chowk and Harphool Vihar, directly benefiting an estimated three thousand to three thousand five hundred school..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?