Bengaluru-based Prestige Group has announced that Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations and Housing Limited, has signed an agreement to sell for the purchase of a 16.381-acre land parcel in Padi, Chennai. The company said the site is strategically located close to 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 deepening its presence in high-quality urban locations while maintaining a disciplined approach to capital allocation. Prestige Group added that it continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development pipeline. In November 2025, Prestige Estates had emerged as the leading listed real estate player, reporting pre-sales of Rs 181.4 billion in the first half of the ongoing financial year (FY26) from April to September. During the same period, India’s 28 major listed real estate companies collectively sold properties worth nearly Rs 925 billion. Tariq Ahmed, CEO (West) of Prestige Estates, had said in November 2025 that customer sentiment remained strong, reflecting positive momentum in the housing market. He noted that homebuyers across segments, from those purchasing Rs 10 million apartments to ultra-luxury buyers committing up to Rs 1 billion, were comfortable taking long-term home loans of up to five years, indicating a high level of confidence. Ahmed added that his qualitative assessment of the market remains optimistic, with buyers showing a willingness to commit to high-value purchases over extended periods, underscoring sustained demand in the premium and luxury housing segments.