Chennai: From Haddows Road in the core city to Chembarambakkam on the fringes — real estate developers have, over the past two years, invested more than ₹2,500 crore across 79.9 acres to secure prime parcels for future projects.Among the biggest disclosed transactions, Baashyaam Group acquired 5.8 acres on Haddows Road for ₹1,212 crore. A joint venture between Prestige Estate Projects and Arihant Foundations and Housing , through Canopy Living LLP, bought 16.4 acres in Padi for ₹561 crore, while Brigade Group purchased 5.4 acres in Velachery for ₹441.7 crore. Freshworks founder Girish Mathrubootham acquired 7.6 grounds in Boat Club for ₹211 crore, Arihant bought nine grounds on Anna Salai for ₹100 crore, and DRA Homes picked up 4.3 acres in Chembarambakkam for ₹50 crore. Godrej Properties also acquired a 47-acre parcel off OMR in Kattur Village, though the deal value was not disclosed.Property consultants say the buying spree marks a shift in strategy. Rather than focusing on a single growth corridor, developers are expanding their presence across established city neighbourhoods, redevelopment zones and emerging suburban markets. “South is always the preferred destination, but huge land parcels are scarce. So, development is happening in the west, especially because of the Chennai-Bengaluru expressway and proposed high-speed rail corridor,” said a developer.The focus is clearly on locations that offer either redevelopment potential within the city or scale in fast-growing suburban corridors. “Land prices are undoubtedly appreciating faster than apartment prices. While residential prices continue to rise steadily, the scarcity of large, litigation-free and development-ready land parcels has pushed land values to new highs,” said Sanjay Chugh, Director (Chennai), Anarock Group.Developers said that the nature of development will naturally vary by location. “Prime city parcels such as Boat Club, Haddows Road and Anna Salai are suited for luxury residential or mixed-use developments, while larger parcels in Padi and OMR lend themselves to integrated residential communities, premium apartments, plotted developments or villas, depending on local demand and planning regulations. Velachery, with its mature social infrastructure and connectivity, is likely to see premium apartment projects catering to the upper-middle and affluent segments,” he said.Ranjeeth Rathod, managing director, Super Chennai and DRA Homes, said since township is the way forward, such huge land parcels are available on the fringes. “People want better lifestyle and amenties. The top 10 developers hold 75% of land parcels in the city. An ₹80-crore investment for five acres of land in Thalambur and ₹51-crore for four acres has happened in Karanai,” Rathod said.
