Godrej Properties Ltd (GPL), one of India's leading real estate developers, announced today that it has purchased 60 acres land in Chennai's fast-growing micro market of Oragadam Junction.
The proposed project, which spans 60 acres, is estimated to have a developable potential of approximately 1.6 million square feet of saleable area, primarily comprised of residential plotted development.
The site is strategically located between the Grand South Trunk Road (GST road) and the NH-4, just off Oragadam Junction (on the 6-lane SH-48), with access to the rest of the city via Chennai Bypass Road, Chennai Tiruvallur High Road, and Red Hills Road.
Oragadam Junction is recognized as one of Chennai's fastest-growing business and industrial corridors, with 22 Fortune 500 companies' manufacturing facilities spread across the industrial belt stretching from Sriperumbudur to Oragadam. The area has a good civil and social infrastructure, including schools, colleges, hospitals, and retail outlets, and is well-connected by road and rail.
At around 10.07 AM, Godrej Properties was trading at Rs1,239.75, up by 0.18% against the previous close of Rs1,237.55 on NSE. The counter touched an intraday high and low of Rs1,249.90 and Rs1,231.55 respectively.
For feedback and suggestions, write to us at editorial@iifl.com
