Arihant & Prestige JV Eyes ₹1,600 Cr GDV in Chennai—750,000 Sq Ft Project to Rise in IT Corridor

Arihant Foundations & Housing Ltd., in partnership with Prestige Group, is set to co-develop a marquee 750,000 sq ft residential project in Perungudi, Chennai, with a projected Gross Development Value (GDV) exceeding ₹1,600 crore. The joint venture has acquired a 3-acre land parcel strategically located on MGR Salai, at the gateway to Chennai’s bustling OMR IT corridor, home to over 15 million sq ft of Grade A office space.

 

The upcoming development will cater to the growing demand for premium housing among tech professionals and urban families, offering proximity to hubs like DLF Downtown, Brookfield Millenia Park, and Global Infocity. The project is expected to feature high-rise towers, modern amenities, and sustainable design elements.

 

This collaboration marks a significant milestone for Arihant, which has been actively transforming Chennai’s skyline since 1995, and for Prestige, which continues to expand its footprint in South India’s high-growth micro-markets.

 

Key Highlights:

Project size: 750,000 sq ft

 

GDV: ₹1,600+ crore

 

Location: Perungudi, Chennai (OMR IT corridor)

 

Partners: Arihant Foundations & Prestige Group

 

Target audience: IT professionals, urban homebuyers

 

Source: Financial Express