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.

Infrastructure Transport

06 Aug 2026

Surya Roshni delivers customised lighting for NCRTC RRTS stations

Surya Roshni has supplied customised indoor lighting solutions for 18 elevated stations on the National Capital Region Transport Corporation's (NCRTC) Rapid Rail Transit System (RRTS), strengthening its presence in India's infrastructure lighting segment.The project involved the design and deployment of lighting systems for platforms, concourses, foot overbridges (FOBs) and back-of-house (BOH) areas. According to the company, the luminaires were developed specifically to meet NCRTC's design, operational and performance requirements rather than using standard products.Surya introduced two custo..

Real Estate

06 Aug 2026

Hilton debuts Tapestry Collection brand in Vietnam

Hilton has opened NHAAN Resort & Spa Hoi An, Tapestry Collection by Hilton, marking the debut of the Tapestry Collection brand in Vietnam and expanding its lifestyle hospitality portfolio in Southeast Asia.Located along the Co Co River in Cam Thanh village, the 174-key resort provides access to Hoi An Ancient Town, Cua Dai Beach and the Cam Thanh Nipa Forest. The property has been designed by Vietnamese architect Vo Trong Nghia, incorporating biophilic architecture, locally sourced materials and riverfront landscapes.The resort offers a mix of guest rooms and suites, including family-frien..

Building Material

06 Aug 2026

Electrent expands lithium energy storage system portfolio

Electrent Energy has expanded its lithium-based energy storage portfolio with the launch of the ESS 850 and ESS 1050, targeting compact and maintenance-free power backup solutions for Indian homes.The new systems integrate a Home UPS and a LiFePO4 lithium battery into a single unit, extending the company's product range following the launch of its ESS 1350 and ESS 2500 models.Designed for apartments and smaller homes, the ESS 850 provides up to 1 hour 15 minutes of backup, while the ESS 1050 offers up to 1 hour 45 minutes on a typical 400 W household load. The systems can power essential appli..