Prestige Group Acquires 16 Acres in Chennai: Strategic Move in Real Estate
Bengaluru-based Prestige Group has announced a significant real estate acquisition in Chennai. The company, through its joint venture Canopy Living LLP, which is a partnership between Prestige Estates Projects Limited and Arihant Foundations and Housing Limited, has signed an Agreement to Sell for a land parcel measuring 16.381 acres located in Padi, Chennai.
According to the company, the land parcel is strategically located in close proximity to Anna Nagar, one of Chennai’s most established and prime residential micro-markets. Anna Nagar is known for its strong social infrastructure, connectivity, and mature residential character, making it an attractive location for real estate development.
This acquisition is aligned with Prestige Group’s strategy of strengthening its presence in high-quality urban locations while maintaining a disciplined approach to capital allocation. The company continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development pipeline.
Prestige Group has been making headlines for its robust performance in the real estate sector. In November 2025, the company emerged as the leading listed player, reporting pre-sales of ₹18,143.7 crore in the first half of the ongoing financial year (FY26) between April and September. India's 28 major listed real estate companies sold properties worth nearly ₹92,500 crore during the same period.
Tariq Ahmed, CEO (West) of Prestige Estates, had highlighted the company’s positive outlook on the market in November 2025. He conducts regular temperature checks on customers, which showcase a positive momentum. “Homebuyers, from those willing to take a ₹1 crore apartment to those willing to take a ₹100 crore apartment, are willing to take long-term home loans over five years, which suggests a high level of confidence,” Ahmed had said.
Ahmed is an eternal optimist on the market, noting that there is positive momentum and people are committing. “When we meet our high-end luxury customers, there are people willing to commit over five years, paying up to ₹100 crores for an apartment comfortably,” he added.
This strategic acquisition in Chennai is expected to bolster Prestige Group’s position in the competitive real estate market, providing a strong foundation for future growth and development in one of India’s key urban centers.
