Prestige Estates’ joint venture Canopy Living LLP has agreed to buy a 16.38-acre land parcel in Padi, Chennai, from Sundaram-Clayton for ₹561 crore.
Sundaram-Clayton said it has received ₹25 crore as advance, with the remaining ₹535.67 crore to be paid at the time of executing the sale deed.
The acquisition fits Prestige Group’s strategy to expand in prime urban locations as it builds its pipeline of residential and mixed-use projects.
Prestige Group JV Firm Buys 16.38-Acre Land Parcel in Chennai for ₹561 Cr
Canopy Living LLP, a joint venture between Prestige Estates Projects and Arihant Foundations & Housing, has signed an agreement for the purchase of a land parcel measuring 16.381 acres located at Padi, Chennai
Prestige Group Architects Diary
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Realty firm Prestige Estates Projects' joint venture firm has agreed to purchase a 16.38-acre land at Padi in Chennai for ₹561 crore to build a real estate project. Sundaram-Clayton is the seller of this land parcel.
Canopy Living LLP, a joint venture between Prestige Estates Projects and Arihant Foundations & Housing, has signed an agreement for the purchase of a land parcel measuring 16.381 acres located at Padi, Chennai, according to a regulatory filing on January 8.
This acquisition is aligned with Prestige Group's strategy of strengthening its presence in high-quality urban locations.
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Separately, Sundaram-Clayton informed the exchanges that it has executed an Agreement to Sell on January 8 with Canopy Living LLP for the sale of its land admeasuring 16.381 acres situated at Korattur village, Ambattur Taluk, Chennai district, Tamil Nadu.
"Advance of ₹25 crore received, and the balance consideration of ₹535.67 crore to be received on execution of the sale deed," Sundaram-Clayton added.
Bengaluru-based Prestige Group stated that it continues to evaluate well-located land acquisition opportunities across key markets to support its future residential and mixed-use development projects.
Prestige Group is one of the leading real estate developers in the country.
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.
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