Shriram Properties Signs JDA For Prime Chennai Land Parcel

Shriram Properties (SPL), a leading mid-market and mid-premium residential real estate developer in South India, has signed a Joint Development Agreement (JDA) to develop a prime 3.2 lakh sqft land parcel in Koyambedu, Chennai. This high-potential project is expected to generate Rs 350-400 crores in revenue and is slated for launch in early FY26.

Positioned in Koyambedu, a key micro-market in Chennai’s urban expansion, the upcoming premium residential complex will benefit from seamless connectivity, with a Metro station, railway station, and key infrastructure in close proximity. The project is set to be completed over the next three years and is expected to strengthen SPL’s asset-light growth strategy.

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 for prime developments. We look forward to launching the project early next financial year and remain committed to delivering top-notch quality and utmost customer satisfaction."

The acquisition of this project is part of SPL’s larger vision for expansion while maintaining a capital-efficient model. This project will further bolster SPL’s strong pipeline and reinforce its growth momentum in the Chennai market.

Shriram Properties (SPL) is one of South India’s leading residential real estate developers, primarily catering to the mid-market and mid-premium segments. The company has a dominant presence in Bengaluru, Chennai, and Kolkata, which together account for nearly 85 per cent of its development activities.

SPL has an impressive track record, having delivered 46 projects with a saleable area of 25 million sqft, predominantly in Bengaluru and Chennai, and more recently, in Kolkata. As of September 30, 2024, SPL boasts a robust development pipeline of 42 projects with a total development potential of 40.2 million sqft. The company is also exploring an entry into the Pune market soon.