Bangalore Based Prestige Group Poised to Acquire Anna Salai Property of TVS Very Soon

Prestige Group, located in Bengaluru, is in the process of acquiring a premium parcel of land extending from Anna Salai to White's Road from Sundaram Motors, a subsidiary of the TVS group, for INR 550 crore to INR 600 crore.

According to sources close to the development, Grade A office space is anticipated to be built on the 89-acre tract located on the road between Anna Salai and White's Road.

Other Bengaluru developers such as Brigade, Purvankara, and Embassy were also in the running, but lost out to Prestige in the all-cash sale, according to real estate insiders. Due to the size of the plot and the legal requirements, it would take at least 18-24 months to break ground on this magnificent 2.14 lakh sqft site.

Sundaram Motors is also said to be planning to sell or develop many valuable land lots around Tamil Nadu, according to real estate sources in the micro market. There is a vast plot in Poonamallee, as well as prime real estate in Madurai and Trichy.

South Indian real estate and the Chennai property market would undoubtedly welcome this news, which will undoubtedly strengthen general sentiments in the Chennai real estate business.