Arihant's ₹1,200 Cr Perungudi Plan Puts OMR Apartment Demand in Focus

Arihant Acquires 3-Acre Perungudi Site for a ₹1,200 Crore Apartment Project

Chennai's Arihant Foundations & Housing Ltd. has bought a 3-acre parcel on MGR Salai in Perungudi, at the entrance to the Old Mahabalipuram Road (OMR) IT corridor, for a premium residential project it values at ₹1,200 crore in gross development value. The company announced the acquisition on 25 June 2025, and the project is designed as an apartment community aimed at IT professionals working in the offices nearby. For buyers and investors tracking south Chennai, this is one of the more significant residential land moves on OMR in the past year.

The development, to be known as Arihant Perungudi Chennai, is planned with about 0.7 million sq ft of built-up area. The company's managing director has described the apartments as modern in architecture, with curated amenities and green open spaces, which he presents as the hallmarks of the Arihant brand. The project is still at the land-stage. Construction has not started, and it needs final regulatory approvals before work can begin. The project is not yet RERA registered and is not open for sale or booking until registration.

What the Story Means for Homebuyers

The first question most buyers ask is what this will cost. At this stage no price band, price per sq ft or payment plan has been announced for Arihant Perungudi Chennai, so anyone quoting a number for this project is ahead of the facts. What buyers can do is measure the project against the locality. As of the April to June 2026 quarter, the average apartment rate in Perungudi stood at about ₹11,050 per sq ft, and the average land rate was about ₹12,000 per sq ft. Apartment prices in the area rose about 11.1% over the past year and about 53.5% over five years, which tells you the locality has already repriced sharply.

Our view is that buyers should not expect bargains from a project that has not yet been approved. Developers who acquire land in a corridor like this one usually price new launches at or above the prevailing rate, especially when the site is close to Grade A offices. Buyers who want to act should first check the RERA registration once it is granted, the approvals in place and the construction timeline. Those who can wait a few months will have a clearer picture of pricing and the payment schedule.

There is also a rental side to weigh. Rental yield in Perungudi is about 2%, which is modest. An investor buying here is betting mainly on capital appreciation and on the arrival of the metro and road upgrades, not on rent. End-users who will live in the homes may find the yield less relevant, but the gap between purchase price and rent is worth keeping in view.

Expert Analysis: Why This Site and Why Now

Perungudi sits at a useful point on the OMR corridor. The site is within walking distance of Global Infocity Park, Brookfield Millenia Park and DLF Downtown, and the developer's own material cites more than 15 million sq ft of Grade A office space in the surrounding area. That gives the project an obvious pool of end-users, which is the logic behind targeting IT professionals rather than the general market. A developer does not pay for a 3-acre site in this stretch without expecting that demand to hold.

The infrastructure story is also moving in the right direction. The Chennai Metro Phase 2 Purple Line runs along Old Mahabalipuram Road through Perungudi, Thoraipakkam and Sholinganallur, with an elevated Perungudi station listed for a March 2028 opening. In March 2026, Chennai Metro Rail Ltd. awarded a ₹113.80 crore contract for grade separators at Perungudi Junction and SRP Tools Junction, to be completed within 18 months of work starting. These works are designed to ease the traffic that has long made the OMR commute difficult. Once finished, they will improve access between Velachery, Taramani and Perungudi.

Against that, the risks are real. Metro timelines in Chennai have slipped before, and OMR traffic will stay heavy during construction. The locality's prices have already climbed more than half over five years. Buyers paying today's rates would be buying into a market where much of the infrastructure benefit may already be reflected in price.

What to Expect Next

The next visible steps are the grant of final regulatory approvals, the RERA registration and the formal launch with a price band and payment plan. None of these dates has been announced for Arihant Perungudi Chennai. Buyers should watch for the RERA entry on the Tamil Nadu portal, which will show the approved unit layouts, carpet areas and the committed possession date. Until that registration appears, no booking should be treated as valid.

On the infrastructure side, the Perungudi Purple Line station is listed for March 2028, and the grade separator works are scheduled to run for about 18 months from start. Expect the corridor to see steady construction activity through the next two years, with traffic disruption along OMR as a trade-off. Locality prices are likely to remain sensitive to each of these milestones.

Related Projects and Areas Affected

• Perungudi (MGR Salai, OMR): the direct beneficiary of the acquisition, with the elevated metro station and grade separators planned for the same stretch.
• Thoraipakkam and Sholinganallur: the next stops on the Purple Line along OMR, where similar office-led demand is expected to spill over.
• Velachery and Taramani: linked to Perungudi through the grade separator works and the MRTS network, improving access for residents and workers.
• Global Infocity Park and Brookfield Millenia Park: office hubs within walking distance of the site, and the main reason end-user demand is expected here.
• Phoenix Marketcity and World Trade Centre Chennai: nearby shopping, entertainment and business draws that add to the appeal of living in the area.

Comparable Projects by Same Developer

• Perungudi IT park (completed May 2007): the developer's earliest office project on this stretch, showing it has worked the same micro-market for almost two decades.
• OMR commercial project (completed May 2018): a commercial development on Old Mahabalipuram Road that the developer delivered in the same corridor.
• Grade A office space in Perungudi (about 80,000 sq ft): a 2025 office asset on OMR, with a coworking operator's hub slated for the Perungudi Industrial Estate.
• Navalur residential project (completed May 2015): a township-scale housing project on the OMR belt, delivered by the developer nearly a decade before the Perungudi plan.

The Developer and the Locality

Arihant Foundations & Housing Ltd. was founded in 1995, and its first project was in Kilpauk, Chennai, in 1984. The company is listed on Indian exchanges and says its delivery track record exceeds 25 million sq ft. Its ongoing portfolio carries a gross development value of ₹11,251 crore across about 8 million sq ft, spanning luxury residential, commercial, senior living and plotted developments. In the first quarter of FY27, consolidated net profit rose 47% year on year to ₹24.09 crore, and revenue rose 60% to ₹135.67 crore. Pre-sales reached ₹338 crore in the nine months to December 2025. Press coverage describes the firm as known for timely delivery, and about 95% of its projects are executed through joint ventures, which is worth noting for buyers checking who will ultimately build and deliver.

Perungudi itself has become one of Chennai's more active mid-to-premium residential investment destinations. The mix of Grade A offices, metro construction and road upgrades explains the steady demand. Its PIN code is 600096. The locality is well placed on the OMR corridor, with the Perungudi railway station on the MRTS line about 1 km from Taramani station and about 14 km from Chennai International Airport. Schools and hospitals in the immediate area are a practical consideration for family buyers, and they should be checked on the ground before purchase.

FAQ

Q: What has Arihant announced for Perungudi?

Arihant announced on 25 June 2025 that it had acquired a 3-acre parcel on MGR Salai, Perungudi, for a premium residential project with a gross development value of ₹1,200 crore. The project is planned as apartments for IT professionals working in nearby offices.

Q: Can I book a flat in Arihant Perungudi Chennai now?

No. The project is not yet RERA registered and is not open for sale or booking until registration. Buyers should wait for the RERA entry and the formal launch before committing money.

Q: What are apartment prices like in Perungudi?

As of the April to June 2026 quarter, the average apartment rate in Perungudi was about ₹11,050 per sq ft. Prices rose about 11.1% over one year and about 53.5% over five years.

Q: When will the metro reach Perungudi?

The Chennai Metro Phase 2 Purple Line station at Perungudi is listed for a March 2028 opening. The grade separators at Perungudi Junction and SRP Tools Junction are being built alongside to ease road traffic.

Q: Is the rental return good in this locality?

Rental yield in Perungudi is about 2%, which is modest. Investors here are mainly relying on capital appreciation and on the arrival of metro and road upgrades.

Full project details: Arihant Perungudi Chennai