ARTICLE AD BOX
Chennai: Real estate major Godrej Properties Limited (GPL) has acquired a massive 47-acre land parcel along the Old Mahabalipuram Road (OMR) in Chennai, one of the fastest-growing micro markets in the city. The company is aiming to develop the land with plotted residential units planned. The company is expecting a revenue potential of ₹500 crore, with about 1.2 million sq ft of developable potential, though GPL has not disclosed the deal value.
The location offers a steadily evolving social infrastructure, including healthcare facilities, educational institutions, retail and entertainment options offering a growing appeal for professionals to consider it as a residential destination.
“South Chennai is seeing a clear evolution in residential demand, with homebuyers increasingly gravitating towards well planned, future-ready communities that offer quality of living and long-term value. This belt has emerged as one of the most promising residential micro markets in the region, supported by improving infrastructure and growing end user interest. Our focus is on creating thoughtfully designed developments that align with these changing expectations and deliver enduring value over time, as we continue to strengthen our presence in Chennai.” Gaurav Pandey, MD & CEO, Godrej Properties, said in a press release.
This development comes after Godrej acquired 23.2 acres in Greater Noida for over ₹500 crore to develop a housing project. During the last financial year, the company acquired 18 land parcels to develop housing projects, as it looks to strengthen its position in the real estate sector.
Godrej Properties’ shares were trading at ₹1,883.70 at the time of publishing.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
English (US) ·