+
Prestige Group to buy TVS’ Anna Salai land for Rs 600 cr
Real Estate

Prestige Group to buy TVS’ Anna Salai land for Rs 600 cr

Prestige Group plans to buy a prime land parcel in Tamil Nadu stretching from Anna Salai to White's Road from Sundaram Motors of the TVS Group for Rs 550-600 crore.

A combination of retail and commercial Grade-A office space might be developed on the 89-ground plot, connecting Anna Salai to White's Road.

Other developers for the land parcel who participated are Bridge, Purvankara and Embassy, but lost to Prestige Group in the all-cash deal. It will take around 18-24 months to develop the 2.14 lakh sq ft plot.

Sources told the media that Sundaram Motors plans to sell or develop many prime land parcels in Tamil Nadu.The plots include a large plot near Poonamallee and premium property in Madurai and Trichy.

The industry experts have maintained a group of southern developers that have shown interest in the Poonamallee land parcel and other plots of the company.

Sources said these interested developers are backed by some big multinational companies (MNCs) funds. The MNC funds like Blackstone have picked up assets worth over Rs 7,000 crore from Prestige Group. Like the Anna Salai plot deal, other deals will also be all-cash deals.

Image Source

Also read: Prestige Group signs civil contract with L&T worth Rs 1,560 cr

Prestige Group plans to buy a prime land parcel in Tamil Nadu stretching from Anna Salai to White's Road from Sundaram Motors of the TVS Group for Rs 550-600 crore. A combination of retail and commercial Grade-A office space might be developed on the 89-ground plot, connecting Anna Salai to White's Road. Other developers for the land parcel who participated are Bridge, Purvankara and Embassy, but lost to Prestige Group in the all-cash deal. It will take around 18-24 months to develop the 2.14 lakh sq ft plot. Sources told the media that Sundaram Motors plans to sell or develop many prime land parcels in Tamil Nadu.The plots include a large plot near Poonamallee and premium property in Madurai and Trichy. The industry experts have maintained a group of southern developers that have shown interest in the Poonamallee land parcel and other plots of the company. Sources said these interested developers are backed by some big multinational companies (MNCs) funds. The MNC funds like Blackstone have picked up assets worth over Rs 7,000 crore from Prestige Group. Like the Anna Salai plot deal, other deals will also be all-cash deals. Image Source Also read: Prestige Group signs civil contract with L&T worth Rs 1,560 cr

Related Stories

Gold Stories

Next Story
Real Estate

Elevate Homes to Develop Premium Project in Gurugram

Elevate Homes, the integrated residential development platform established by Hines and Conscient Infrastructure, will develop a premium residential project in Sector 63A, Golf Course Extension Road, Gurugram. Spread across 10.5 acres with around two million sq. ft. of saleable area, the project is planned for launch later in 2026.Designed by global architecture firm Benoy, the development will feature globally inspired architecture, nature-led design and curated wellness-focused spaces. The project will offer more than 600 three- and four-bedroom residences, with a focus on liveability, susta..

Next Story
Real Estate

BPTP Skynest Wins Premium High-Rise Development Award

BPTP Limited has been recognised with the ‘Premium High-Rise Development of the Year’ award for its residential project BPTP Skynest at the Times Realty & Infrastructure Conclave 2026, held at Grand Hyatt, Gurugram.Located in Sector 80, Greater Faridabad, BPTP Skynest is designed as a premium high-rise residential development featuring contemporary architecture, thoughtfully planned homes and lifestyle-oriented amenities. The project comprises 504 residential units and incorporates biophilic design elements through 20 dedicated Sky Nests, landscaped green spaces integrated within the t..

Next Story
Real Estate

Dubai Buyers Seek Independent Property Transfer Services

Dubai’s property market is witnessing growing discussions around the role of independent transfer services, as some leading brokerages require buyers to pay conveyancing or sales-progression fees even when the service is managed within the same business group holding the seller’s mandate.The practice has gained attention as brokerage websites promote such services, while LinkedIn and Instagram profiles highlight dedicated sales-progression teams operating within agencies. Industry observers point out that the concern is not about the capability of in-house conveyancers but whether buyers s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code