Prestige Canopy Living — A New Address for South Chennai
2, 3 & 4 BHK · Price on Request
Prestige Canopy Living is the residential expression of a landmark joint venture between Prestige Estates Projects Ltd and Arihant Foundations and Housing Ltd, developed through their jointly formed entity Canopy Living LLP. Positioned on a consolidated 3.48-acre site in Velachery — one of South Chennai's most connected micro-markets — the project is designed to deliver 2 BHK, 3 BHK, and 4 BHK apartments across approximately 7.5 lakh square feet of built-up space, with an estimated Gross Development Value exceeding Rs. 1,600 crore.
The address places residents at the intersection of everyday convenience and professional ambition. The Taramani IT Corridor and Guindy's dense commercial cluster sit within a short commute, while Velachery's own mature social fabric — reputed schools, multi-speciality hospitals, and the Phoenix MarketCity retail anchor — eliminates the dependency on long drives for daily needs. The MRTS rail network at Velachery and Taramani stations threads the neighbourhood directly into the city's wider transit grid.
Prestige Group, founded in Bengaluru in 1986 by Razack Sattar, has spent nearly four decades building across residential, commercial, retail, and hospitality verticals in 13 major Indian cities. The group has delivered over 300 projects covering more than 180 million square feet and carries the distinction of being the only developer in India with a CRISIL DA1+ construction and development rating. In Chennai specifically, Prestige has been expanding its residential footprint, with recent launches including the 21.84-acre Prestige Pallavaram Gardens township, demonstrating sustained commitment to the city's premium housing market.
Arihant Foundations and Housing Ltd brings over four decades of on-the-ground presence in Tamil Nadu, with a deep understanding of Chennai's buyer profile, regulatory environment, and micro-market dynamics. The combination of Prestige's national execution scale with Arihant's local knowledge creates a joint venture purpose-built for a complex, high-value urban site. The land acquisition was confirmed in a regulatory filing by Prestige Estates Projects Ltd and structured through CBRE, underscoring the institutional rigour behind this development.
Prestige Canopy Living represents an opportunity to live within one of the few large, cleared residential sites to come to market in Velachery in recent years. Enquire with our team to register your interest ahead of the formal launch.
| Configuration | Size | Starting Price |
|---|---|---|
| 2 BHK Compact, well-ventilated homes designed for professionals and small families | On request | |
| 3 BHK Spacious family apartments with smart layouts and natural light | On request | |
| 4 BHK Generous residences for families seeking premium space and privacy | On request |
Detailed master plan and unit-wise floor plans available on request.
Velachery, South Chennai, Tamil Nadu 600042 · Chennai
Velachery sits at the crossroads of old and new Chennai, serving as the critical junction between the GST Road corridor, the Old Mahabalipuram Road IT belt, and the city's historic central business districts. The locality is bounded by IIT Madras to the northeast and is flanked by Guindy and Adyar, two of Chennai's most established urban precincts. Phoenix MarketCity, Apollo Specialty Hospital, Vijaya Health Centre, and DAV Public School are among the prominent institutions that have anchored Velachery's reputation as a fully self-sufficient suburban address. Velachery and Perungudi MRTS stations place the entire city on a short rail journey from this neighbourhood.
The land on which Prestige Canopy Living will rise was formerly part of the Rane (Madras) Ltd industrial estate — a 3.48-acre parcel acquired through the joint venture Canopy Living LLP and facilitated by CBRE. The site's former industrial ownership translates into a clear, consolidated plot in an otherwise densely built locality, a rare attribute in South Chennai. Proximity to the Taramani IT Corridor and Guindy Industrial Estate means residents will have major employment nodes within a short commute, while OMR's expanding tech parks remain easily accessible via Velachery Main Road and the Taramani Link Road.
See the property in person. Our sales team will get in touch to coordinate a visit at your convenience.
The Madhavaram–Sholinganallur Metro corridor is set to add a station serving Velachery, significantly reducing commute times to the central business district and northern employment nodes once operational.
The Mass Rapid Transit System connecting Velachery and Taramani stations is being upgraded to improve frequency and capacity, strengthening the suburb's rail-based access to Chennai's port and central zones.
Ongoing road infrastructure improvements on the Inner Ring Road and flyover network around Perungudi and Velachery are easing peak-hour traffic flows between OMR and the western suburbs.
A new peripheral road skirting the Pallikaranai wetland reserve is planned to provide an alternate south-bound route, reducing pressure on Velachery's arterial roads and improving connectivity to Sholinganallur.
State government-backed expansion of IT and ITES zones along the Taramani–OMR axis is expected to add office supply within 5 km of Velachery, sustaining rental demand and long-term capital appreciation for residential buyers.
In a locality as built-up as Velachery, a clear 3.48-acre footprint — the former Rane (Madras) Ltd industrial site — is an uncommon scale of land. It allows for meaningful open space, proper setbacks, and a genuine sense of community within the gated perimeter.
The project combines Prestige Group's pan-India execution capability — 300-plus delivered projects across 180 million sq ft — with Arihant Foundations' four decades of ground-level knowledge of Chennai's regulatory and buyer landscape. Each partner contributes what the other cannot replicate alone.
A GDV target of over Rs. 1,600 crore on 7.5 lakh sq ft of developable area positions Prestige Canopy Living squarely in the premium residential tier. The land alone was acquired for Rs. 361 crore, signalling the investment scale and commitment behind this project.
Velachery and Taramani MRTS stations are within a short distance of the site. The Taramani Link Road and Velachery Main Road feed directly into OMR, GST Road, and the Outer Ring Road, making most of Chennai's employment districts reachable without highway-scale commutes.
Phoenix MarketCity, DAV Public School, Apollo Specialty Hospital, Vijaya Health Centre, and Guru Nanak College are all established institutions within the immediate neighbourhood — not future promises, but functioning anchors that families can rely on from day one.
Property values in Velachery have seen year-on-year appreciation driven by IT sector office leasing and demand from technology and finance professionals. Prestige's own recent Chennai launch, Prestige Pallavaram Gardens — a 21.84-acre township — demonstrated strong market absorption, affirming the appetite for branded residential communities in South Chennai.
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