Prestige Estates Secures Prime Chennai Land for Major Housing Project

Prestige Estates Projects Ltd has acquired 25 acres in Chennai for a deluxe housing project, aiming for over Rs 5,000 crore in revenue. The land, acquired from Ramco Cements Ltd, will cater to the city's ever-growing mid-segment housing demand, benefiting from its infrastructural and commercial proximity.

Prestige Estates Projects Ltd, a prominent real estate developer, has expanded its footprint by acquiring a 25-acre land parcel in Medavakkam, Chennai for a significant housing development.

The project, anticipated to generate over Rs 5,000 crore, aims to harness approximately 5 million square feet of floor space, catering to the city's constant demand for mid-segment housing.

In a strategic move, the company purchased the land from Ramco Cements Ltd, further solidifying Chennai as a crucial market for Prestige Estates, backed by improving infrastructure and proximity to employment hubs.

(With inputs from agencies.)