Prestige Estates acquires 25-acre land parcel in Chennai with topline potential of over Rs 5,000 crore

Prestige Estates Projects said that it has acquired a 25-acre land parcel in Medavakkam, Chennai, offering a development potential of approximately 5 million square feet, with an estimated top-line revenue potential of over Rs 5,000 crore.

The site is proposed to be developed into a large-format project in line with Prestige Groups focus on scale and planning efficiency.

Medavakkam is a rapidly developing residential micro-market in Chennai, benefiting from proximity to the OMR IT corridor, improving road infrastructure, and upcoming metro connectivity. The area offers a balanced mix of accessibility, affordability, and growing social infrastructure, supporting sustained residential demand.

Irfan Razack, chairman and managing director, Prestige Group, said: This land acquisition in Medavakkam aligns with our long-term view on Chennai as an important market for the Group.

 

The location is well suited to address the citys sustained mid-segment housing demand, supported by improving infrastructure and proximity to key employment hubs. This addition strengthens our development pipeline, positioning us well for the next phase of growth in Chennai.

Prestige Group is a diversified real estate developers, with a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As at June 2025, the Group has delivered 310 projects spanning 202 million square feet and currently has a pipeline of 130 projects across 199 million square feet.

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