Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
• Godrej Properties has acquired a 47-acre land parcel in South Chennai through an outright purchase, expanding its residential development portfolio in one of the city's fastest-growing corridors.
• The project will primarily comprise plotted residential developments with an estimated developable potential of 1.2 million sq ft and a revenue potential of around 500 crore.
• Located off Old Mahabalipuram Road (OMR), the site offers connectivity to major employment hubs, including SIPCOT and the Siruseri IT corridor, along with established social infrastructure.
• The acquisition aligns with Godrej Properties' strategy of expanding in high-growth residential markets by developing well-planned communities in locations driven by infrastructure growth and sustained housing demand.
Godrej Properties Limited (GPL) has expanded its presence in South India by acquiring a 47-acre land parcel in Chennai through an outright purchase. The new acquisition, located off Old Mahabalipuram Road (OMR), is expected to strengthen the company's residential development pipeline in one of the city's fastest-growing real estate corridors.
The proposed development will primarily consist of plotted residential units and is estimated to offer a developable potential of approximately 1.2 million square feet. Based on current business assumptions, the company expects the project to generate an estimated revenue potential of around INR 500 crore, making it a significant addition to its portfolio in Tamil Nadu.
The project site is strategically located along the OMR corridor, providing convenient access to several key employment centres in South Chennai. These include the Siruseri–Kelambakkam technology corridor, SIPCOT, and emerging growth nodes such as Vandalur, Guduvanchery and the broader Mahabalipuram region. This connectivity is expected to support demand from homebuyers seeking residences close to major commercial and IT hubs.
The location is also supported by an expanding social infrastructure, with access to educational institutions, healthcare facilities, retail centres and entertainment destinations. According to the company, these factors have contributed to the area's growing appeal as a preferred residential destination for both end-users and long-term investors.
Commenting on the acquisition, Gaurav Pandey, Managing Director and Chief Executive Officer of Godrej Properties, said that South Chennai has witnessed a steady evolution in residential demand, with buyers increasingly preferring well-planned communities that offer quality living and long-term value. He noted that improving infrastructure and sustained end-user demand have positioned the region among the most promising residential micro-markets in southern India.
The acquisition aligns with Godrej Properties' strategy of expanding its footprint in high-growth urban markets by acquiring well-located land parcels capable of supporting future residential demand. The company has continued to focus on strengthening its presence across key metropolitan regions through a combination of outright land purchases and development partnerships.
Godrej Properties, part of the Godrej Industries Group, is among India's leading residential developers. The company has delivered homes to more than 100,000 families and remains focused on creating sustainable, thoughtfully designed residential communities. It has also received global recognition for its sustainability initiatives, reflecting its emphasis on responsible and environmentally conscious urban development.
The Chennai acquisition is expected to further consolidate the company's presence in the southern market while supporting its long-term growth strategy through the development of integrated residential communities in locations with strong infrastructure and employment-driven demand.
Source- NSE Archives
Advertisement
Facebook
Whatsapp
