Arihant Foundations & Housing Limited, a Chennai-based real estate developer, on Thursday announced the outright acquisition of a prime land parcel measuring over half an acre on Mount Road (Anna Salai), in the heart of the city’s central business district and adjacent to the Hyatt Regency Chennai.The value of the property and the seller’s name was not disclosed.The company plans to develop a boutique Grade A commercial office project on the site, with an estimated Gross Development Value of ₹300 crore.The development is intended to address continuing demand for quality office space from occupiers across sectors including corporates, global capability centres (GCCs), information technology, financial services and engineering, says a release.This acquisition follows the company’s recent transaction on a land parcel of similar extent near Boat Club.Published on July 2, 2026