Shriram Properties Limited (SPL), a 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.
The company is embarking on developing a premium residential complex with an aggregate saleable area of 3.2 lakh sq ft over the next three years.
The project is expected to have an aggregate revenue potential of approx. ₹350 – ₹400 crores and is being targeted for launch during early FY26, according to a release.
This acquisition is expected to fortify SPL’s project pipeline further and support growth momentum.
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”.
