Prestige Group acquires 25-acre land parcel in Medavakkam, strengthening Chennai expansion

Prestige Group has taken a major step in strengthening its presence in Chennai with the acquisition of a 25-acre land parcel in Medavakkam, one of the city’s fastest growing residential micro markets. The land purchase marks a key milestone in the developer’s expansion strategy in Tamil Nadu and reflects growing confidence in Chennai’s long term housing demand.

According to industry estimates, the site offers development potential of nearly five million square feet and could generate revenue of over Rs 5,000 crore over the lifecycle of the project. The proposed development is expected to follow the group’s established approach of large scale planning, efficient layouts, and high quality construction, which has helped the developer build a strong brand presence across major Indian cities.

Medavakkam has emerged as a preferred residential destination due to its strategic location and improving infrastructure. The area enjoys close proximity to the OMR IT corridor, making it attractive for professionals working in Chennai’s technology and services hubs. Improved road connectivity has significantly reduced travel time to key employment zones, while upcoming Metro connectivity is expected to further enhance accessibility and property values in the region.

Affordability compared to core city locations has also played a crucial role in Medavakkam’s residential appeal. The locality has witnessed steady growth in social infrastructure, including schools, healthcare facilities, retail outlets, and daily convenience services. These factors have collectively contributed to sustained end user demand, particularly among first time homebuyers and mid income households.

For Prestige Group, the Medavakkam acquisition aligns with its focus on expanding in high demand urban markets through well planned residential communities. The company has consistently emphasised design quality, timely execution, and customer centric development, which are expected to remain central to this project as well.

While detailed project plans and timelines are yet to be announced, real estate observers believe the development will add significant supply to Chennai’s residential market over the coming years. The acquisition underlines the developer’s long term commitment to Chennai and signals continued momentum in the city’s real estate sector, supported by infrastructure growth, employment generation, and stable housing demand.