Arihant Foundations acquires prime plot on Anna Salai

Chennai-based real estate developer Arihant Foundations & Housing Limited has acquired a prime plot of over half an acre on Mount Road (Anna Salai), adjacent to Hyatt Regency Chennai, through an outright purchase.

According to market sources, the transaction has been registered. The property measures around nine plots and with a prevailing market rate of nearly ₹10 crore per plot, the transaction value is estimated to be around ₹100 crore.

The company plans to develop a boutique Grade A commercial office project at the site with an estimated gross development value of ₹300 crore.

The proposed Class A office development is designed to respond to the continued demand for quality office space from users across sectors, including corporate, global capacity centres, information technology, financial services and engineering.

“We plan to build approximately 1,000 m2 with a ground floor and ten floors. The project, which will involve an international architect, is expected to be completed within two years,” a company source said.

Construction will begin after obtaining all necessary approvals. Asked who the seller is, the source said, “Many years ago it was one plot before it was sold to multiple owners. Now we have reacquired the entire plot. One of the sellers was from Bengaluru while the other was a family based in Coimbatore.”

“Mount Road is Chennai’s most prestigious commercial address and demand for premium A-grade office space in the central business district continues to grow. This development is an important step in expanding our commercial portfolio,” said Kamal Lunawath, Managing Director, Arihant Foundations & Housing Ltd. This acquisition follows the company’s recent transaction on a similar scale property near the Boat Club.

Published – 02 Jul 2026 22:46 IST