Forum Malls and Falcon City: A Boost to Property Value

Ask anyone who bought in Velachery before 2013 what Phoenix MarketCity did to their property price. They'll smile. Chennai has already run this experiment once, and the result wasn't subtle.

Now the same script is being set up in south Chennai's next corridor. Prestige Group — which happens to run some of the most successful malls in the country — has announced Forum One OMR, a 1.7 million sq ft mall a short drive from Medavakkam. For anyone considering , that announcement is worth more attention than it's getting.

First, How Good Is Prestige at Retail? Honestly — Very

I'll let the FY26 numbers do the talking:

Retail Metric (FY26)	Figure
Mall occupancy	99%+
Footfalls for the year	19.1 million
Gross turnover	₹2,567 crore, up 13%
Forum One OMR size	1.70 mn sq ft
Rental income projection	₹275 cr now → ₹1,176 cr by FY30

Sit with that occupancy figure for a second. 99%. Most Indian malls struggle to cross 85%. When a developer's malls stay this full, it means two things — brands trust the Forum name, and Prestige doesn't build retail where retail won't work. They've clearly studied the OMR belt and liked what they saw.

Why a Mall Nearby Pushes Home Prices Up

It's not magic, just three forces stacking together.

Convenience gets priced in

Weekend movie, groceries, a birthday dinner — all fifteen minutes away instead of forty. Buyers pay extra for that. Always have.

Big money signals confidence

Nobody sinks ₹1,000+ crore into a mall without studying an area's income levels for years. When Prestige commits, restaurants, clinics, and schools read the signal and follow. Then the roads improve. Then prices move.

Tenants flock in

Renters shortlist homes near offices and hangout spots. Falcon City sits between the OMR job corridor and this upcoming retail hub. If you're buying to lease out, that's your vacancy insurance.

The Velachery Story, Since We Brought It Up

Phoenix MarketCity opened in 2013. Velachery at the time? A decent, slightly sleepy suburb. Within a few years, prices in the surrounding pockets had outrun the city average and the area became one of south Chennai's prime addresses. Old-timers still grumble they should've bought two flats instead of one.

Medavakkam today looks a lot like Velachery did back then. Strong housing demand, roads getting wider, organised retail on its way. The difference is you can see it coming this time.

One More Thing Most Buyers Miss

Prestige doesn't build malls, sell them, and walk away. It operates them — the retail arm collects rent every month, and its own filings project that rental income growing four-fold by FY30.

Think about what that means for a neighbourhood. The developer stays invested for decades. The mall gets maintained, the brand mix stays sharp, the area stays premium. A builder who profits from a locality's long-term health is the best neighbour your property value can have.

Prestige Group Prelaunch Project is Prestige Falcon City Chennai.

FAQs

1. Is there a Forum Mall inside Prestige Falcon City Chennai?

The confirmed project nearby is Forum One OMR at 1.7 million sq ft. For retail inside the township itself, confirm with the sales team and official master plan.