New Delhi, June 30 -- Realty developer Godrej Properties has expanded its presence in Tamil Nadu with the acquisition of a 47-acre land parcel in South Chennai, where it plans to develop a plotted residential project with an estimated revenue potential of Rs.500 crore.

The company disclosed the acquisition in a regulatory filing on Tuesday, saying the land was purchased outright. While it did not reveal the deal value, Godrej Properties said the project will primarily comprise residential plots with a developable potential of around 1.2 million square feet. The acquisition adds to the company's expanding project pipeline as it looks to strengthen its presence in key housing markets across the country.

Commenting on the development, Mana...