Prestige And Arihant Acquire 16.331 Acre Site In Padi, Chennai

31 Mar 2026 CW Team

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 Limited and Arihant Foundations and Housing Limited. The site is proposed for a premium residential development with a saleable area of three point six million (mn) square feet and an estimated revenue potential of approximately Rs50 billion (bn).

Strategically located close to Anna Nagar, the parcel benefits from established social infrastructure and strong connectivity that underpin residential demand in the micro market. The scale and location are expected to influence the character of premium housing supply in the area.

Prestige Group indicated that Chennai remains a key market owing to stable demand, improving infrastructure and evolving residential preferences, and that the company will pursue well located, high quality developments with an emphasis on execution and timely delivery. Arihant Group added that consistent end user demand and a robust ecosystem support the city's residential growth and that the partners expect the project to address premium housing needs near Anna Nagar.

Prestige Group is a diversified developer with almost four decades of experience and a portfolio that, as at December 2025, comprised 313 delivered projects spanning 206 mn square feet and a pipeline of 128 projects across 195 mn square feet. Arihant Foundations and Housing Limited is a Chennai based developer with more than four decades of experience and a delivery track record exceeding 25 mn square feet.

The development through Canopy Living LLP underscores continued institutional interest in Chennai and is likely to generate employment and ancillary economic activity during construction and sale phases. Both partners expect to leverage local market knowledge and delivery capability to convert the site potential into a premium residential offering.

Real Estate

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..