Chennai, June 30 -- Real estate developers Godrej Properties Limited today announced acquisition of a 47 acre land parcel in Chennai.
The acquisition was through an outright purchase of the land 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 mn.sqft with an estimated revenue potential of Rs 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 locati...