India, Sept. 5 -- Real estate developer Shriram Properties Limited (SPL) has signed a joint development agreement for a 6.5-acre land parcel in North Bengaluru's Yelahanka area with a gross development value (GDV) of Rs.500 crore, the company said in a regulatory filing on September 5.

The proposed development will cover 0.6 million sq ft of saleable area and is expected to be launched in the next financial year. The project is located next to the upcoming 154-acre Madapanahalli Biodiversity Park, which will include eucalyptus plantations, a medicinal garden, aviary, zoo, and tree park.

SPL said the project aligns with its asset-light strategy and will add momentum to its expanding project pipeline. "This project marks a significant mil...