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• Arihant Foundations & Housing has acquired over half an acre of prime land on Anna Salai (Mount Road), Chennai, adjacent to Hyatt Regency, to develop a Grade A commercial office project.
• The proposed development has an estimated Gross Development Value (GDV) of INR 300 crore and is designed as a boutique office complex catering to premium corporate occupiers.
• The project is expected to meet growing demand from Global Capability Centres (GCCs), IT companies, financial institutions and engineering firms seeking high-quality office space in Chennai's central business district.
• The acquisition strengthens Arihant Foundations' commercial real estate portfolio and aligns with its strategy of expanding through premium land acquisitions in high-value urban micro-markets, following its recent investment near Boat Club.
Arihant Foundations & Housing has strengthened its commercial real estate portfolio by acquiring more than half an acre of prime land on Anna Salai (Mount Road) in Chennai, where it plans to develop a boutique Grade A office project with an estimated gross development value (GDV) of INR 300 crore. Located adjacent to the Hyatt Regency Chennai in the city's central business district, the acquisition reflects the developer's strategy of expanding its presence in premium commercial micro-markets with limited land availability.
The proposed development will cater to the increasing demand for high-quality office space from a diverse range of occupiers, including corporates, Global Capability Centres (GCCs), information technology companies, financial services firms and engineering enterprises. Chennai has emerged as one of India's fastest-growing office markets, driven by strong demand from multinational companies and expanding GCC operations, particularly in central business districts that offer excellent connectivity and established commercial infrastructure.
According to the company, the Anna Salai corridor continues to be one of Chennai's most sought-after commercial destinations owing to its strategic location, established business ecosystem and limited availability of developable land. The project is expected to deliver premium office infrastructure designed to meet evolving workplace requirements, including modern building specifications, efficient floor plates and high-quality amenities suitable for institutional occupiers and large enterprises.
The latest acquisition follows another strategic land purchase by Arihant Foundations near Boat Club, one of Chennai's most prestigious localities. Together, the transactions reflect the company's broader development strategy of acquiring well-located parcels in land-constrained urban areas and transforming them into boutique Grade A commercial assets. Rather than pursuing large land banks on the city's outskirts, the developer is focusing on premium locations where demand for high-quality office space remains resilient despite limited supply.
Managing Director Kamal Lunawath stated that the acquisition aligns with the company's long-term objective of expanding its commercial portfolio in central Chennai. He noted that Anna Salai remains one of the city's most prestigious business addresses, with sustained demand from occupiers seeking modern office developments in established commercial districts. The proposed project is expected to leverage the company's four decades of experience in developing residential and commercial real estate across Chennai.
Arihant Foundations has delivered more than 25 million square feet of real estate across various asset classes over the years. Its current development portfolio has an estimated gross development value of INR 11,251 crore, covering approximately 8 million square feet across residential, commercial, senior living and plotted developments. The company's recent investments indicate a growing emphasis on expanding its commercial footprint alongside its established residential business.
Industry observers believe the acquisition reflects the continued strength of Chennai's commercial property market, where demand from GCCs and technology-driven businesses has supported sustained office absorption despite limited availability of premium sites in central locations. By securing strategically located land parcels and developing high-specification office projects, Arihant Foundations aims to capitalise on this demand while creating landmark commercial assets in one of the city's most established business corridors.
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