Prestige Estates Projects Limited has announced the acquisition of a 25-acre land parcel in Medavakkam, Chennai, reinforcing its long-term growth strategy in the city’s residential real-estate market. The acquisition was disclosed through an official press release dated December 22, 2025, filed with the National Stock Exchange and BSE.
According to the company, the newly acquired site offers a development potential of approximately 5 million square feet, with an estimated top-line revenue potential exceeding ₹5,000 crore. The land is proposed to be developed as a large-format residential project, aligned with Prestige Group’s focus on scale, planning efficiency, and long-term portfolio expansion.
Medavakkam has emerged as one of Chennai’s fast-growing residential micro-markets, benefiting from its proximity to the OMR IT corridor, improving road infrastructure, and proposed metro connectivity. The area is increasingly attracting homebuyers due to a combination of accessibility, relative affordability, and expanding social infrastructure, which continues to support sustained residential demand.
Commenting on the acquisition, Irfan Razack, Chairman and Managing Director of Prestige Group, stated that the investment aligns with the company’s long-term outlook for Chennai as a key growth market. He highlighted that Medavakkam’s location and infrastructure profile make it suitable for addressing the city’s ongoing mid-segment housing demand, while also strengthening the group’s future development pipeline.
The company noted that the project will be planned and executed in accordance with Prestige Group’s established standards for design, quality, and delivery timelines. Further details regarding the project configuration, unit mix, and development schedule are expected to be announced at a later stage.
Prestige Group currently has a diversified real-estate portfolio across residential, commercial, retail, hospitality, and township developments in multiple Indian cities. As of September 2025, the group has delivered over 310 projects spanning more than 200 million sq ft, with a substantial pipeline under development.
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Alkka Roy writes about real estate trends, property insights, and investment opportunities, helping readers make informed decisions in a dynamic market.
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