Chennai-based real estate developer Arihant Foundations & Housing has acquired a landmark 3-acre land parcel on MGR Salai, Perungudi, at the entrance of the city’s fast-growing IT corridor along Old Mahabalipuram Road (OMR).
The company plans to develop a premium residential project on the site with a proposed built-up area of 0.7 million square feet. The project is expected to have a Gross Development Value (GDV) of Rs 1,200 crore.
Project awaits final approvals before launch
The project will be launched after all necessary regulatory approvals are in place. Arihant will announce the construction timeline in the coming months.
The land is located within walking distance of over 15 million square feet of top-grade office spaces. These include major commercial hubs such as Global Infocity Park, Brookfield Millenia Park, and DLF Downtown. Its strategic location makes it one of the most sought-after residential spots for professionals working in Chennai’s booming IT sector.
Arihant aims to cater to the rising demand for quality homes from professionals in the area. The residential community will include modern apartments, lifestyle amenities, and open green spaces.
With more than 40 years of experience, Arihant Foundations has delivered over 25 million square feet of real estate across Chennai.
