Mumbai, Sept. 2 -- Prestige Estate Projects Limited has launched Prestige Palm Court, a residential development at Madhavaram in North Chennai, located on the Grand Northern Trunk Road.
The project occupies seven point nine eight acres and is valued at Rs 13.3 bn, comprising 910 premium apartments across five towers with ground plus 22 floors and two basement levels for each tower. The development offers one, two and three BHK unit types with saleable areas ranging from 641 sq ft to 1,827 sq ft. The complete saleable area of the development is one point three eight million square feet (mn sq ft).
As part of its Chennai expansion the company intends to develop three to four residential projects in the current financial year. Prestige Group has so far delivered 319 projects covering 216 mn sq ft and maintains a pipeline of 139 projects within 247.16 mn sq ft. The launch underscores the developer's focus on mid to premium housing in key suburban corridors. The site on GNT Road is positioned to serve growing residential demand in the northern suburbs.
Prestige Palm Court will provide a mix of configurations to appeal to family buyers and investors with a focus on larger saleable footprints and amenity-led living. The design includes two basement levels for parking and services and towers rising to ground plus 22 floors to optimise saleable inventory while meeting regulatory norms. The developer's cumulative deliveries and active pipeline reflect a sustained building programme and capacity to execute multiple projects concurrently. The project adds to Chennai's supply of new residential units in an area with improving connectivity.
Market observers will watch sales absorption and project timelines as the development progresses through approvals and construction. The developer has articulated an expansion strategy for the region covering several projects within the year while balancing deliveries across its national portfolio. Financial and operational details beyond saleable area and unit mix were not disclosed in the announcement. The launch follows a trend of large organised developers expanding in suburban Chennai.
Published by HT Digital Content Services with permission from Construction World.