The five-acre Open Space Reservation land at the end of Thiruvalluvar Street in Medavakkam is currently used for garbage dumping. Bhoomi Puja was conducted on April 21, 2021, and a farm pond was created. The Medavakkam Village Panchayat and Saint Thomas Mount Panchayat Union started creating a Miyawaki forest in 2024 but stopped within days. From November 2025, residents and environmental organisations sent letters to the Chengalpattu District Collectorate requesting resumption of work. The unused plot now attracts mosquitoes and poses health hazards to residents of Thiruvalluvar Street and nearby areas. Residents reference Chennai City District Collectorate's permission to plant 27 plant varieties at Pallikaranai Aanaai Eri and hope for similar approval from Chengalpattu District Collectorate.

Prestige Estates Projects Ltd acquired a 25 acre land parcel in Medavakkam, Chennai. The acquisition offers development potential of around 5 million square feet with estimated revenue potential exceeding ₹5,000 crore. The site will be developed into a large format residential project aligned with the group's strategy of scale, efficient planning, and long term value creation.

Medavakkam is a fast developing residential micro market supported by proximity to OMR IT corridor, improving road connectivity, planned infrastructure upgrades, and proposed metro connectivity. The area attracts mid segment homebuyers seeking affordability and access to employment hubs, with growing social infrastructure supporting sustained residential demand.

Chairman and Managing Director Irfan Razack stated the acquisition aligns with the group's long term view on Chennai as a strategic market, well suited to address steady mid segment housing demand. The acquisition strengthens Prestige Group's development pipeline and positions the company for the next phase of growth in Chennai. Project configuration and development timeline to be announced later.

Prestige Group acquired a 25-acre land parcel in Medavakkam, Chennai, offering approximately five million sq ft of development potential with estimated revenue over ₹5,000 crore. In early December 2025, Prestige Falcon Realty (wholly-owned subsidiary) and Prestige Projects (subsidiary) acquired partnership interest in Bharatnagar Buildcon LLP, infusing ₹938.75 crore through capital and current account contribution. The company now indirectly holds 66.93% partnership interest in the LLP: 63.12% through Prestige Falcon Realty and 3.81% through Prestige Projects.

Chennai's rental market is shifting to suburbs due to Metro expansion, growing IT employment hubs, and upgraded transport infrastructure. Average rental growth across Chennai was 8% year-on-year.

Localities with highest rent appreciation:

• Iyyappanthangal: 21.7%
• Koyambedu: 20.3%
• West Tambaram: 19.1%
• Medavakkam: 18.5%
• Thoraipakkam: 18%
• Ramapuram: 15.3%

Rent drivers: Chennai Metro expansion along corridors including Iyyappanthangal, Ramapuram, and Koyambedu; IT and Global Capability Centre expansion on Old Mahabalipuram Road (OMR) corridor (Thoraipakkam, Perungudi, Sholinganallur); Kilambakkam Bus Terminus opening transforming GST Road corridor (Pallavaram, Perungalathur, Tambaram belt).

Affordability: Average monthly rent in Tambaram is Rs 15,073, approximately 30% lower than Porur (Rs 19,753). Young professionals and corporate employees migrating to suburbs for larger homes at lower rents.

Tenant preferences: 59% prefer apartments in gated communities or complexes (up from 42% in 2020). Demand for fully furnished homes increased 49% since 2023; fully furnished homes attract 1.4 times more tenant demand than semi-furnished properties. Demand for unfurnished properties declining.

Property experts expect strong rental appreciation ahead in KK Nagar, Tambaram, Maduravoyal, Adyar, and Valasaravakkam.

Deputy Chief Minister Udhayanidhi Stalin inaugurated the 329-metre-long, 5.5-metre-wide limited-use vehicular subway at Radha Nagar, Chromepet, on January 7, 2026. Built for ₹31.62 crore in place of level crossing 27, it benefits residents of Radha Nagar, Zameen Pallavaram, Postal Nagar, Nemilichery, Nanmangalam and Medavakkam.

Planned in 2006 as a pedestrian-only facility to connect East Chromepet residents to Grand Southern Trunk (GST) Road, the project’s original cost was ₹17.65 crore. In 2016, the Highways department converted it into a limited-use subway after requests from some Radha Nagar Main Road residents. Railway work beneath the tracks was completed by 2012. Separate service bridges connect the GST Road and Radha Nagar sides to Chromepet railway station, with staircases for station access. Height gauges prevent heavy vehicles from entering; LED lights are installed along both retaining walls. The gate will remain open for larger vehicles to cross.