Prestige Estates Plants Roots in Chennai with Canopy Living JV—Watch the City Grow

Prestige Estates Projects Ltd is making a significant move to expand its presence in Chennai by launching a new joint venture called ‘Canopy Living LLP’, where it holds a 50% ownership stake. Established on June 5, 2025, this joint venture is poised to spearhead new real estate developments in Chennai, Tamil Nadu, marking an important step for the Bengaluru-based real estate powerhouse.

Key Highlights
Strategic Expansion: Canopy Living LLP is the latest initiative from Prestige Estates aimed at tapping into Chennai’s thriving real estate market, following recent partnerships with local developers like Arihant Foundations.

JV Structure: With a 50% stake in Canopy Living LLP, Prestige Estates is embracing an equal partnership model that blends national execution skills with local market insights.

Diverse Development Plans: The joint venture is set to explore opportunities across various sectors, including residential, commercial, retail, and hospitality, ensuring a comprehensive approach to Chennai’s urban development.

Synergy with Arihant Foundations: This new venture aligns perfectly with Prestige’s existing framework agreement with Arihant Foundations, where both companies are committed to co-developing a range of projects in Chennai through separate joint venture agreements for each initiative.

Market Impact: As Chennai experiences a strong demand for quality real estate, Canopy Living LLP is expected to deliver top-notch, value-driven developments, leveraging Prestige’s nationwide reputation and Arihant’s local know-how.

Prestige’s Growth Trajectory: The launch of Canopy Living LLP fits seamlessly into Prestige Estates’ ambitious expansion plans, which include rolling out 25 new residential projects worth over ₹42,000 crore across major cities in FY26, with a particular focus on Chennai.

“This partnership is anticipated to drive the development of premium, well-planned urban infrastructure throughout the city, potentially raising lifestyle standards and attracting both domestic and international investors.”

With Canopy Living LLP, Prestige Estates is poised to set new benchmarks in Chennai’s real estate landscape, promising innovative, high-value projects that reflect both national ambition and local insight.

Source: NDTV Profit, Verified.RealEstate Community, Realty Plus, The Hindu Business Line