Shriram Properties Expands in Chennai with New ₹400 Crore Housing Project

11 Feb 2025 , 10:51 PM

Shriram Properties Ltd has signed a joint development agreement (JDA) with a joint development partner to develop a luxury residential project in Koyambedu, Chennai, a high-growth and upscale micro-market.

The project would be 3.2 lakh square feet of saleable area and would be delivered in three years. With a revenue potential of ₹350-400 crore, the project would be launched in the early part of FY26.

Koyambedu is a well-connected micro-market with a metro, railway station, and other basic infrastructure facilities around it, and hence a high-demand residential micro-market.

Shriram Properties would develop a landmark residential community, further consolidating its leadership position in Chennai real estate space. The project is in accordance with the company’s asset-light philosophy, allowing it to grow in scale without diluting financial flexibility and high growth tailwind.

Chairman & MD, Murali Malayappan, reaffirmed that Chennai is a matured market for legacy brands, and this development will allow the company to grow by delivering top-class quality and customer satisfaction.