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.