PRESTIGE PADI KORATTUR — New Project Coming Up in Padi-Korattur, Chennai
Project Acquisition and Details
Prestige Group, through its joint venture firm Canopy Living LLP, has signed an agreement to acquire a premium 16.38-acre land parcel in the Padi–Korattur micro-market of Chennai for ₹561 crore. The joint venture between Prestige Estates Projects Ltd and Arihant Foundations & Housing Ltd signed the agreement on January 8. The land is being acquired from Sundaram-Clayton Ltd and is expected to be developed into a large-scale real estate project in the future.
Location and Connectivity
Prestige Korattur is located in Korattur village, Ambattur Taluk, Chennai district, Tamil Nadu. It enjoys excellent connectivity to Padi, Anna Nagar, Mogappair, Villivakkam, Ambattur and Korattur Railway Station. Korattur is a well-established residential locality in the Ambattur zone of north-western Chennai, situated between Padi, Ambattur, and Villivakkam.
Thirumangalam is the closest metro station from Padi, situated 3 km away on the Green Line. Korattur Railway Station is the closest railway station from Padi, located 3 km away.
Planned Development
The project features thoughtfully designed 2 BHK and 3 BHK apartments Chennai, along with premium office spaces and retail shops. The integrated Prestige Korattur Master Plan and Floor Plan focuses on open spaces, efficient layouts and a balanced urban environment.
Market Context
Chennai continues to be a focus market for several large developers, driven by steady end-user demand, improving infrastructure and sustained interest in organised housing projects. The Padi Ambattur micro-market, in particular, has seen increased development activity due to its proximity to employment hubs and established residential catchments.
About Prestige Group
Prestige Group, legally Prestige Estates Projects Limited, was founded by Razack Sattar in 1986 and has grown into one of India's largest and most respected listed real-estate developers. Headquartered at Prestige Falcon Tower in Bengaluru, the group operates across 13 cities — Bengaluru, Chennai, Hyderabad, Kochi, Mangaluru, Mumbai, Goa, Pune, Delhi-NCR, and others — spanning residential, commercial, retail, hospitality and mixed-use developments.
As of September 2025, the Group has delivered 310 projects, spanning 202 million sq ft, and currently has a pipeline of 130 projects across 199 million sq ft. The company went public on the BSE and NSE in 2010. FY26 sales bookings of ₹30,024 crore (up 76% year-on-year) are the highest in the company's history and rank among the highest annual sales by any Indian real-estate developer to date.