Prestige Group and Arihant Group have jointly acquired a prime 16.331 acre land parcel in Padi, Chennai. The acquisition has been undertaken through Canopy Living LLP, a joint venture between Prestige Estates Projects and Arihant Foundations and Housing. The land parcel is proposed to be developed into a premium residential project with a total saleable area of about 3.6 million square feet and an estimated revenue potential of approximately Rs 5,000 crore.

Strategically located in Padi, in close proximity to Anna Nagar, one of Chennai's most sought-after residential micro-markets, the site benefits from a well-established ecosystem, including strong social infrastructure and connectivity.