Prestige Estates Unveils ₹33.5 Billion Township in Chennai’s Pallavaram Corridor

Project Highlight: Prestige Estates Projects Ltd has developed Prestige Pallavaram Gardens, a landmark residential complex in Chennai with a gross development value of ₹33.50 billion. The project is a major addition to the company's southern India portfolio and is consistent with the high-growth urban cluster focus.

 

Launch Highlights:

 

The project is strategically located on the Pallavaram–Thuraipakkam Radial Road and is well connected with Chennai's IT parks and airport.

 

Spanning 21.84 acres, the township will boast 2,069 apartments measuring 2, 3, and 4 BHK, along with maid's quarters.

 

The development will feature over 60 lifestyle amenities including a clubhouse, gardens, sports facilities, and retail spaces.

 

The development is intended to serve the end-user as well as the investor looking for long-term value in the fast-growing corridor.

 

Financial Scope:

 

The project, worth ₹33.50 billion in gross development value, is among the biggest residential launches in Chennai this year.

 

Investment size is an indication of Prestige Group's belief in Chennai's residential market, especially in well-connected micro-markets with good infrastructure.

 

Strategic Importance:

 

The launch is a part of Prestige Estates' overall strategy of increasing its presence in key South Indian cities.

 

The project will create enormous employment opportunities during the construction phase and will be a boon for the local economy.

 

It also contributes to the group's recent Chennai joint ventures, such as a ₹1,600 crore premium residential development in Velachery.

 

Market Outlook:

 

With metro connectivity, proximity to job centers, and high demand for integrated townships, Pallavaram is quickly emerging as a new residential hub.

 

Prestige Pallavaram Gardens will benefit from this demand, with a combination of city living and community living.

 

Sources: Business Standard, Prestige Group Official Website, 99acres, MSN News, Prestige Prelaunch Projects