Prestige Estates Acquires 25 Acres of Land in Chennai
Real estate company Prestige Estates Projects Ltd has announced the acquisition of 25 acres of land in the Medavakkam area of Chennai. This move signifies the company’s long-term commitment to the Chennai real estate market and is considered a significant business development achievement for the group. According to the company, the land has the potential for developing approximately 50 lakh square feet, translating into a top-line revenue potential of over ₹5,000 crore.
The company stated that it plans to develop a large-scale housing project on this site, consistent with its approach focused on scale and planning efficiency. Medavakkam is a rapidly developing residential micro-market in Chennai, supported by its proximity to the OMR IT corridor, excellent road connectivity, and the proposed metro network. The area continues to witness sustained demand for mid-segment housing due to its superior social infrastructure and affordable housing options.
