Godrej Properties acquires ~ 47 acre land parcel in Chennai

Godrej Properties Limited (GPL) (BSE: GODREJPROP), one of India's leading real estate developers, today announced the acquisition of a ~ 47 acre land parcel through an outright purchase which is located off Old Mahabalipuram road (OMR), one of the fast-growing micro markets in South Chennai.

The proposed development on this land will comprise primarily plotted residential units and is expected to offer a developable potential of ~ 1.2 million square feet, with an estimated revenue potential of ~ INR 500 crore.*

The site is well connected via OMR, providing access to key employment hubs across the Siruseri-Kelambakkam corridor, including SIPCOT as well as emerging nodes such as Vandalur, Guduvanchery, and the wider Mahabalipuram region.

The location is supported by a steadily evolving social infrastructure, with access to healthcare facilities, educational institutions, retail, and entertainment options, contributing to its growing appeal as a residential destination.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "South Chennai is seeing a clear evolution in residential demand, with homebuyers increasingly gravitating towards wellplanned, 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."

*On the basis of current business assumptions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 1830.50 as compared to the previous close of Rs. 1849.30. The total number of shares traded during the day was 154385 in over 1965 trades.

The stock hit an intraday high of Rs. 1871.35 and intraday low of 1825.85. The net turnover during the day was Rs. 284579018.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty OMR SouthChennai LandParcel OutrightPurchase