New Launch
Prestige Padi Korattur: Mixed-Use Residential Township Announced in North Chennai
Prestige Group, through joint venture Canopy Living LLP, has announced an upcoming mixed-use residential project on a 16.38-acre site in Padi-Korattur, North West Chennai. The project is in early-stage development following the land acquisition agreement signed in January 2026.
| Developer | Prestige Group (through Canopy Living LLP in JV with Arihant Foundations & Housing) |
|---|---|
| Land Area | 16.38 acres |
| Location | Korattur village, Ambattur Taluk, Chennai district, Tamil Nadu |
| Land Cost | ₹561 crore (acquired from Sundaram-Clayton Ltd, January 2026) |
| Planned GDV | ₹5,000 crore |
| Saleable Area | 3.6 million sq. ft. (approx.) |
| Product Type | 2 BHK and 3 BHK apartments; office spaces; retail shops |
| Status (as of September 2026) | Upcoming; pre-launch phase; RERA registration pending |
| Pricing | Price on request; to be disclosed at official launch |
| Possession Timeline | Not yet specified; expected 4-5 years from launch |
Project Overview
Prestige Group, through its joint venture Canopy Living LLP, has secured a 16.33-acre land parcel in Padi, Chennai, and plans to develop a premium residential project with a Gross Development Value of ₹5,000 crore. The planned development is expected to offer 3.6 million square feet of saleable area. The project is designed to offer a modern blend of residential comfort, commercial convenience and lifestyle amenities, featuring thoughtfully designed 2 BHK and 3 BHK apartments along with premium office spaces and retail shops.
Land Acquisition and Timeline
Prestige Estates' joint venture Canopy Living LLP has agreed to buy a 16.38-acre land parcel in Padi, Chennai, from Sundaram-Clayton for ₹561 crore, with ₹25 crore received as advance and the remaining ₹535.67 crore to be paid at the time of executing the sale deed. The agreement was signed in January 2026. The project is currently in the upcoming stage, with official launch dates, floor plans, pricing and booking details to be announced by the developer soon.
Location and Connectivity
The project is located in Korattur village, Ambattur Taluk, Chennai district, Tamil Nadu, and enjoys excellent connectivity to Padi, Anna Nagar, Mogappair, Villivakkam, Ambattur and Korattur Railway Station. The site is located within Korattur village, Ambattur Taluk, a zone that is fast transforming into a modern residential and commercial corridor. The Metrowater sewage pipeline project in the Ambattur zone, which includes Korattur and Padi, is nearing completion as part of a ₹106.42-crore project aimed at replacing an old, leak-prone pipeline.
Locality Context: Padi-Korattur Demand
Padi is exactly 13 km from the city's centre and is one of the newer parts of the city, with the Madras Thiruvallur High Road passing through it; the area is an industrial zone whose infrastructure and living conditions have made it popular among the working class. Industries in the area include Lucas TVS, Wheels India, Sundaram Fasteners, Sundaram Clayton, Brakes India, and Britannia Industries. Korattur is located along the Chennai-Bangalore/Mumbai railroad about 12 km from Chennai Central. The locality is in demand because of nearby IT parks and industrial areas, with a good number of schools and medical shops around.
RERA and Regulatory Status
As of September 2026, the project is in pre-launch stage and has not yet received RERA registration from Tamil Nadu RERA. The project price is currently on request, with RERA registration coming soon, ensuring transparency and buyer confidence. Official RERA registration and formal launch details are expected to be announced by the developer in due course.
About the Developers
Prestige Group is an Indian real estate development company headquartered in Bangalore, founded by Razack Sattar in 1986, and has developed residential colonies and commercial spaces in Bangalore, Chennai, Kochi, Calicut, Hyderabad, Mumbai, Mangalore, Goa and Delhi-NCR. As of December 2025, the company had completed 313 projects spanning 206 million square feet and maintains a strong pipeline of 128 ongoing projects covering 195 million square feet.
Frequently asked questions
What is the status of Prestige Padi Korattur as of September 2026?
The project is in the upcoming/pre-launch phase. Land acquisition was completed in January 2026 for ₹561 crore. RERA registration and formal launch details are pending and expected to be announced soon.
What configurations are planned?
The project will offer 2 BHK and 3 BHK residential apartments, along with premium office spaces and retail shops in a mixed-use format across 16.38 acres.
Who developed this project?
Prestige Group, through its joint venture entity Canopy Living LLP (formed with Arihant Foundations & Housing Ltd), is developing the project.
What is the planned pricing and possession timeline?
Pricing is currently on request and will be disclosed at official launch. Possession timelines have not yet been specified but typically follow a 4-5 year construction cycle from formal launch.
Why is Padi-Korattur a suitable location for residential development?
The area has strong connectivity via Korattur Railway Station, Inner Ring Road, and proximity to Ambattur Industrial Estate and IT parks. It is well-served with schools, hospitals, and shopping facilities, supporting both residential demand and employment hubs.
When can I expect official bookings to open?
Official bookings and detailed project information will be announced once RERA registration is completed. Interested parties are advised to monitor the official Prestige Group website for launch announcements.