Latest news with #Chennai-based
Hindustan Times
4 hours ago
- Business
- Hindustan Times
Prestige Group inks JV with Arihant Group for ₹1,600 crore residential project in Chennai
Bengaluru-based real estate developer Prestige Group and Chennai-based Arihant Group have announced a strategic partnership to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai from Rane Madras Limited, the company said in a regulatory filing. Bengaluru-based real estate developer Prestige Group and Chennai-based Arihant Group have announced a strategic partnership to jointly acquire a prime 3.48-acre land parcel in Velachery, Chennai. (Representational photo)(Pexels) The acquisition, routed through their joint venture entity Canopy Living LLP, will offer around 7.5 lakh sq ft of residential space, with an estimated Gross Development Value (GDV) of over ₹ 1,600 crore, marking an expansion to Chennai's real estate market. Velachery, a residential and commercial hub in South Chennai, offers connectivity to IT corridors like OMR and GST Road. The area's rapid infrastructure growth and proximity to employment hubs make it one of the sought-after places for buyers. Irfan Razack, Chairman and Managing Director of Prestige Group, said the Velachery acquisition marks a significant milestone in the company's continued expansion into Chennai, a key market in its national growth strategy. 'Our collaboration with Arihant Group reflects a common goal—to build well-designed, high-quality residential communities that align with the changing aspirations of urban homebuyers." Also Read: Bengaluru-based Prestige Group to launch ₹ 50,000 crore worth of homes in FY26 'Velachery's vibrant ecosystem and future growth potential make it a prime destination for luxury housing. Our collaboration with Prestige Group reflects a shared vision of building thoughtfully designed, high-quality developments. We're confident this project will set new standards for residential living in Chennai," Kamal Lunawath, Managing Director of Arihant Group, said. Prestige Group has completed 302 developments covering a total of 193 million square feet and currently has 130 ongoing and upcoming projects, accounting for an additional 203 million square feet in its pipeline. Chennai-based Arihant Foundations and Housing Ltd brings over 40 years of industry experience, with a portfolio that includes the successful delivery of more than 25 million square feet of built-up space.
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Business Standard
7 hours ago
- Business
- Business Standard
Prestige Group, Chennai-based realtor form JV to develop ₹1,600 cr project
Prestige Group and Arihant Foundations and Housing Ltd will jointly develop a 3.5-acre residential project in Chennai with a revenue potential of more than Rs 1,600 crore. According to a regulatory filing, Prestige Estates Projects Ltd and Arihant Foundations and Housing Ltd have formed a joint venture to buy 3.48-acre land in Velachery, Chennai from Rane (Madras) Ltd. The acquisition will be undertaken through JV entity Canopy Living LLP. "The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated Gross Development Value (GDV) of over Rs 1,600 crore," the filing said. On Friday, Rane (Madras) Ltd informed that it has sold a 3.48-acre land parcel in Velachery, Chennai to the JV firm for Rs 361 crore. The land deal was facilitated by real estate consultant CBRE. Irfan Razack, Chairman and Managing Director of Prestige Group, said, "Chennai continues to be an integral part of our national expansion strategy, and this upcoming acquisition in Velachery marks another step in our journey to deliver landmark residential developments." "Our partnership with Arihant in the region reflects a shared vision to develop high-quality, thoughtfully designed communities that resonate with evolving urban lifestyles," he said. Bengaluru-based Prestige Group has delivered 302 projects spanning 193 million square feet and has a pipeline of 130 projects across 203 million square feet. Arihant Foundations and Housing Ltd is a Chennai-based real estate developer with over four decades of experience and a delivery track record of more than 25 million square feet.
Time of India
8 hours ago
- Business
- Time of India
Prestige Group forms JV with Chennai's Arihant to develop ₹1,600 crore residential project
Prestige Group and Arihant Foundations and Housing Ltd will jointly develop a 3.5-acre residential project in Chennai with a revenue potential of more than Rs 1,600 crore. According to a regulatory filing, Prestige Estates Projects Ltd and Arihant Foundations and Housing Ltd have formed a joint venture to buy 3.48-acre land in Velachery, Chennai from Rane (Madras) Ltd. The acquisition will be undertaken through JV entity Canopy Living LLP. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tamil Nadu Mosquito Problem? Do This Immediately (Genius!) Mosquito Eliminator Read More Undo "The land is earmarked for the development of premium residential dwellings with a total development potential of approximately 7.5 lakh square feet and an estimated Gross Development Value (GDV) of over Rs 1,600 crore," the filing said. On Friday, Rane (Madras) Ltd informed that it has sold a 3.48-acre land parcel in Velachery, Chennai to the JV firm for Rs 361 crore. Live Events The land deal was facilitated by real estate consultant CBRE. Irfan Razack, Chairman and Managing Director of Prestige Group, said, "Chennai continues to be an integral part of our national expansion strategy, and this upcoming acquisition in Velachery marks another step in our journey to deliver landmark residential developments." "Our partnership with Arihant in the region reflects a shared vision to develop high-quality, thoughtfully designed communities that resonate with evolving urban lifestyles ," he said. Bengaluru-based Prestige Group has delivered 302 projects spanning 193 million square feet and has a pipeline of 130 projects across 203 million square feet. Arihant Foundations and Housing Ltd is a Chennai-based real estate developer with over four decades of experience and a delivery track record of more than 25 million square feet.
India.com
14 hours ago
- Business
- India.com
India to earn more money as tensions rise in the world due to...., can become next US because...
India to earn more money as tensions rise in the world due to...., can become next US because... It is sad but true that in trying times like these when the world is witnessing two wars, Russia-Ukraine and Iran Israel, India has a scope to be rich. It is said that US that during the Second World War earned a lot of money by selling weapons to the Axis countries and the Allies. Now India is also getting a similar opportunity. In order to keep an eye on each other, countries need satellites and this need of theirs can be fulfilled by India's private space companies which have started getting orders from many countries of the world including Australia, Norway, Hungary, Poland and countries of West Asia. How can Indian companies benefit? According to a report in Mint, many countries of the world are working together with Indian companies. These include Alpha Design, which has investment from Adani Defense and Aerospace. Most of these include countries that do not have their own satellite program. But due to rapidly changing geopolitical equations and global tensions, they need to keep an eye on enemy activities from space and as India has good relations with many countries, Indian companies are to be benefitted. What is the worth of Indian contracts? Experts say that the US giants Boeing, Lockheed Martin and Northorp Grumman, which make reconnaissance satellites, are focusing on big contracts. Indian companies are getting contracts worth 5 to 25 million dollars. Private sector participation in India's space sector is increasing rapidly. Since the establishment of IN-SPACe in the year 2020, the role of private companies in space has increased significantly. Who are getting orders? Bengaluru's Anant Technologies and Digantara have got contracts from Australia. These companies want to put their satellites in space and share the data obtained from them with other countries. Chennai-based company GalaxEye Space has announced the launch of its first surveillance recent years, many startup companies have emerged in the space sector. These include Skyroot Aerospace, Agnikul Cosmos, Pixel Bellatrix Aerospace and Dhruvra Space. Skyroot Aerospace launched the country's first private rocket Vikram-S. This company is developing launch vehicles of the Vikram series. The company's target is to launch satellites at a very low cost.
Time of India
21 hours ago
- Entertainment
- Time of India
Robotic jumbo gifted by Trisha debuts at Aruppukottai temples
Chennai: The kumbhabhishekam festival is on at the Sri Ashtalinga Athisesha Selva Vinayagar temple and the Sri Ashtabhuja Athisesha Varahi Amman Temples in Aruppukottai, after a gap of 24 years. The ceremony involves the new temple elephant Gaja carrying a pot of water from a nearby river to present to the idol at the temple. A life-sized Gaja's head is shaking, his ears flapping and his eyes are moving, but a closer look would reveal that he is not walking, but being wheeled. Gaja is a mechanical elephant made of fibre and silicon and powered by electricity, a generous gift to the temples from actor Trisha Krishnan and other donors. Many temples keep wild elephants captive but in any restrictive and confined atmosphere, they go through immense psychological trauma and stress, says Ananda Kumar, senior scientist, nature conservation foundation. "Ideally, wild elephants should be phased out from all such ceremonies, but any move replacing them is welcome." There have been countless instances, especially in the neighbouring state of Kerala, of elephants running wild amid processions and killing its own mahouts as well as spectators. "The temple authorities emrbaced the idea since even children can be around them safely," says Arun Prasanna, of the Chennai-based NGO People for Cattle in India (PCI), which works for captive elephants and is associated with this initiative. This initiative marks the first instance in the Madurai region - and the entire Virudhunagar district. "Devotion shines brightest when it's rooted in compassion," said Trisha, on the occasion.
