NEW DELHI: Arihant Foundations & Housing has acquired a land parcel exceeding half an acre on Anna Salai (Mount Road) in Chennai, intending to develop a Grade-A commercial office project.
The project boasts an estimated gross development value of approximately ₹300 crore. The company stated that the upcoming development will meet demand from various sectors, including corporations, global capability centers, IT, financial services, and engineering.
This acquisition follows the company’s recent purchase of a comparable land parcel near Boat Club in Chennai.
Kamal Lunawath, the managing director of the company, mentioned that this development is part of their strategy to broaden their commercial portfolio in central Chennai.
Arihant Foundations & Housing has successfully delivered over 25 million sq ft across various projects. Their ongoing portfolio has a gross development value of ₹11,251 crore and spans around eight million sq ft across residential, commercial, senior living, and plotted developments.
