A Chennai-based real estate player, Arihant Foundations and Housing Ltd., has chosen a three-acre land parcel on MGR Salai in Perungudi to develop a residential project. According to industry sources, the land value alone was around ₹300 crore.
A Chennai-based real estate player, Arihant Foundations and Housing Ltd., has chosen a three-acre land parcel on MGR Salai in Perungudi to develop a residential project. According to industry sources, the land value alone was around ₹300 crore.
“Arihant has signed a joint development, and this project will have a gross development value of approximately ₹1,200 crore,” the source said.
It is learnt that Arihant is planning to come up with a high-rise residential project featuring 35 to 40 floors. Upon completion, it is poised to become the tallest building in the area.
“The project will cater to the IT and start-up crowd in that area, which is surrounded by major IT parks, such as DLF, RMZ and SP Infocity,” the source added. Hundreds of start-ups have mushroomed in this area, which also houses consulting firms and digital marketing companies.
Published – June 19, 2025 12:57 am IST