Prestige And Arihant Acquire 16.331 Acre Parcel In Padi, Chennai

30 Mar 2026 CW Team

The site is proposed to be developed into a premium residential project with a total saleable area of three point six million (mn) square feet and an estimated revenue potential of Rs 50 billion (bn). The development plan is expected to focus on high-end units and associated amenities designed for discerning buyers. Detailed phasing, unit mix and launch timelines were not disclosed by the joint venture in the release. Financial structuring and marketing strategies are to be finalised as the project moves towards approvals.

Located in Padi and in close proximity to Anna Nagar, the site benefits from strong social infrastructure, established neighbourhood services and robust transport connectivity. The location is one of Chennai's sought-after micro-markets and offers access to schools, healthcare and retail that underpin residential demand. The joint venture will leverage the existing ecosystem to position the project within the premium segment and to attract long-term buyers. Local planning environment and approvals will shape the project sequencing and delivery timeline.

The acquisition adds to the developers' portfolios in South India and reflects continued investor interest in Chennai's residential market. The projected revenue underscores the scale of the planned development and the partners' confidence in the city's long-term housing demand. The move may influence supply dynamics in the premium neighbourhoods of the city as similar large parcels remain limited. Further commercialisation and launch plans are to be determined by the joint venture as preparatory work progresses.

Prestige Group and Arihant Group have jointly acquired a 16.331 acre land parcel in Padi, Chennai through Canopy Living LLP, a joint venture between Prestige Estates Projects and Arihant Foundations and Housing. The acquisition secures a strategic site for residential development in a well-established urban neighbourhood and complements the partners' existing development pipelines. The partners completed the purchase to enable a large-scale premium housing project intended to address demand in the premium segment. The transaction represents a significant land bank addition for the joint venture. The site is proposed to be developed into a premium residential project with a total saleable area of three point six million (mn) square feet and an estimated revenue potential of Rs 50 billion (bn). The development plan is expected to focus on high-end units and associated amenities designed for discerning buyers. Detailed phasing, unit mix and launch timelines were not disclosed by the joint venture in the release. Financial structuring and marketing strategies are to be finalised as the project moves towards approvals. Located in Padi and in close proximity to Anna Nagar, the site benefits from strong social infrastructure, established neighbourhood services and robust transport connectivity. The location is one of Chennai's sought-after micro-markets and offers access to schools, healthcare and retail that underpin residential demand. The joint venture will leverage the existing ecosystem to position the project within the premium segment and to attract long-term buyers. Local planning environment and approvals will shape the project sequencing and delivery timeline. The acquisition adds to the developers' portfolios in South India and reflects continued investor interest in Chennai's residential market. The projected revenue underscores the scale of the planned development and the partners' confidence in the city's long-term housing demand. The move may influence supply dynamics in the premium neighbourhoods of the city as similar large parcels remain limited. Further commercialisation and launch plans are to be determined by the joint venture as preparatory work progresses.

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

Infrastructure Urban

08 May 2026

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Infrastructure Transport

08 May 2026

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..