The site is proposed to be developed into a large-format project in line with Prestige Group’s focus on scale and planning efficiency.
Medavakkam is a rapidly developing residential micro-market in Chennai, benefiting from proximity to the OMR IT corridor, improving road infrastructure, and upcoming metro connectivity. The area offers a balanced mix of accessibility, affordability, and growing social infrastructure, supporting sustained residential demand.
Irfan Razack, chairman and managing director, Prestige Group, said: “This land acquisition in Medavakkam aligns with our long-term view on Chennai as an important market for the Group.
The location is well suited to address the city’s sustained mid-segment housing demand, supported by improving infrastructure and proximity to key employment hubs. This addition strengthens our development pipeline, positioning us well for the next phase of growth in Chennai.”
Prestige Group is a diversified real estate developers, with a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As at June 2025, 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 scrip rose 0.79% to currently trade at Rs 1616 on the BSE.
"Prevent unauthorised transactions in your account ; Update your mobile numbers/email IDs with Us. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day” - Issued in the interest of Investors"
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
"No need to issue cheques by investors while subscribing to Equity IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."