Prestige Group and Arihant Group jointly acquire land in Padi

Prestige Group and Arihant Group have collaboratively acquired a land parcel measuring 16.331 acres in Padi, Chennai.

This acquisition has been executed via Canopy Living LLP, a joint venture formed between Prestige Estates Projects and Arihant Foundations and Housing. The land is intended to be transformed into a residential project, featuring a total saleable area of approximately 3.6 million square feet and an estimated revenue potential of around ₹5,000 crore.

Irfan Razack, the chairman and managing director of the company, stated, “We remain committed to enhancing our presence in the city through strategically located, high-quality developments.”