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Prestige Group, a prominent property developer based in Bengaluru, has joined forces with WS Industries, a Chennai-based company, in a visionary joint venture to develop a 1.1 million-square-foot IT park, situated on a prized seven-acre plot along the prestigious Mount-Poonamallee Road in Chennai. While this collaboration does not involve the sale of land, industry insiders estimate that the project's total cost, including the land itself, would range from Rs 750 crore to Rs 800 crore. Valuing the land at approximately Rs 30 crore per acre, this ambitious endeavour promises to deliver a one-of-a-kind development.
Once completed, the sprawling 1.1 million-square-foot IT park will rival the size of the renowned Tidel Park, which made history as the first mega-tech park in the city in 2000. Positioned within the emerging IT hub of Chennai at Porur, Mount-Poonamallee Road is swiftly establishing itself as the city's third IT corridor, following the success of OMR and Radial Road. The stretch between Nandambakkam and Porur already hosts notable establishments like the DLF IT Park at Manapakkam, as well as tech park developments by esteemed companies such as L&T (now under CapitaLand), Rahejas, and RMZ. The ongoing metro rail project further enhances the connectivity in this area, cementing its status as a thriving business destination.
WS Industries, under the guidance of Chairman Nagarajan Seyyadurai, eagerly anticipates the partnership with Prestige Group, recognizing the potential for an iconic and landmark development within Chennai's burgeoning IT hub at Porur. With a renewed focus on infrastructure projects, WS Industries has recently acquired a substantial 250-acre plot in Sunguvarchatram, with plans to develop a state-of-the-art logistics and light engineering hub. Their robust pipeline of projects underscores their commitment to driving progress and innovation in the industry.
Through this collaboration, Prestige Group and WS Industries are poised to shape the future of the IT sector, combining their expertise, resources, and vision to create a transformative IT park. This strategic partnership not only reinforces their commitment to excellence but also solidifies their positions as leaders in the real estate and infrastructure sectors.
With a remarkable track record of over 30 years, the Prestige Group has established itself as a leading force in the real estate sector, particularly in Southern India. Having successfully delivered more than 210 projects spanning over 80 million square feet, the company has earned a reputation for excellence and innovation. With a robust pipeline of 53 ongoing projects and 35 upcoming projects, Prestige Group continues to shape the real estate landscape with its diverse portfolio, which encompasses commercial parks, office buildings, residential developments, retail malls, hospitality establishments, and more. The company's commitment to quality and customer satisfaction has propelled it to the forefront of the industry, making it a trusted choice for discerning investors and homebuyers alike.
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