Shriram Properties Signs JDA For Prime Land In Chennai
Shriram Properties Limited, a mid-market and mid-premium focused residential real estate developer in South India, has signed a Joint Development Agreement (JDA) to develop prime land at Koyambedu, a prominent micro market in Chennai's urban renaissance, offering strategic advantages and economic vibrancy. SPL envisions developing an iconic residential project in this prime micro-market of Koyambedu, Chennai. The project offers excellent connectivity, with a Metro station, railway station, and essential infrastructure facilities in proximity. This project acquisition is integral to SPL's pursuit of accelerated growth whilst remaining asset light. The project will further fortify its strong pipeline 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 look forward to its launch in early next financial year and remain committed to delivering top-notch quality and utmost customer satisfaction".
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