Shriram Properties signs JDA for a Prime Land Parcel in Chennai

Shriram Properties (“SPL”), a leading mid-market and mid-premium focused residential real estate developers in South India, has signed a Joint Development Agreement (“JDA”) to develop a prime land at Koyambedu - a prominent micro market in Chennai's urban renaissance, offering strategic advantages and economic vibrancy.

The Company is embarking on developing a premium residential complex with an aggregate saleable area of 3.2 lakh sqft, to be developed over the next 3 years. The project is expected to have an aggregate revenue potential of approx. Rs. 350 to Rs. 400 crores and is being targeted for launch during early FY26.

SPL envisions developing an iconic residential project in this prime micro-market of Koyambedu, Chennai. Strategically located, the project offers excellent connectivity, with a Metro station, railway station, and essential infrastructure facilities in proximity.

This project acquisition is an integral part of SPL’s pursuit of accelerated growth, whilst remaining asset light. The project will further fortify its strong project pipeline and support growth momentum going forward.

Commenting on the development, Murali Malayappan, CMD of SPL, said, “This investment aligns with our asset-light strategy to drive accelerated growth. Chennai presents a promising market with immense potential for established brands like Shriram. This micro market is well established and a hotspot of prime developments. We are looking forward to its launch in early next financial year and remain committed to delivering top-notch quality and utmost satisfaction for our customers”.