Prestige Acquires 25-Acre Land in Chennai Medavakkam for ₹5,000+ Crore Development
Prestige Estates Expands Chennai Portfolio with 25-Acre Medavakkam Acquisition
Announced through a regulatory filing on December 22, 2025, Prestige Estates Projects Limited has acquired a 25-acre land parcel in Medavakkam, Chennai, reinforcing its long-term growth strategy in the city's residential real-estate market. The site offers development potential of approximately 5 million square feet, with estimated top-line revenue potential exceeding ₹5,000 crore.
Development Scope and Timeline
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. 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.
Why Medavakkam Matters to Prestige
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 location is suitable for addressing the city's ongoing mid-segment housing demand, while strengthening the group's future development pipeline.
The Medavakkam Metro Station—part of Chennai Metro Phase 2—is under construction and slated for completion by mid-2026. The six-lane Radial Road Link from Siruseri to Medavakkam will begin construction in early 2025 and is aligned for completion by 2027. The Medavakkam Junction Flyover (connecting GST Road) is set to break ground by late 2024 and complete by 2026.
Market Context
The locality benefits from excellent connectivity through key arterial roads—Old Mahabalipuram Road (OMR), Grand Southern Trunk (GST) Road, and Radial Road. The locality is just 12 km from Chennai International Airport, making it an attractive option for frequent travellers.
Residential property values in Medavakkam have appreciated by approximately 34% from 2019 to early 2024, indicating a strong upward trend.
Prestige Group's Presence
Prestige Group is one of India's most respected and diversified real estate developers, with a legacy of almost four decades. The Group has delivered 310 projects spanning 202 million square feet and currently has a pipeline of 130 projects across 199 million square feet. The company's portfolio spans residential, commercial, retail, hospitality, and township developments in multiple Indian cities.