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Shriram Properties Limited has entered into a joint development agreement with a landowner to undertake a housing project on 6.5 acres in North Bengaluru. The premium residential scheme is planned with a saleable area of nearly 0.6 million square feet, carrying a gross development value of around INR 500 crore. The company has a track record of delivering 48 projects across Bengaluru, Chennai and Kolkata, and is presently working on developments spanning 19 million square feet.
Real estate developer Shriram Properties Limited announced earlier this week that it had signed a joint development agreement with a landowner to develop a residential project in North Bengaluru. The project is planned on a 6.5-acre land parcel and will include a premium housing development with a saleable area estimated at 0.6 million square feet. Advertisement
In its regulatory filing, the company conveyed that the gross development value potential of this project is expected to be around INR 500 crore. This addition aligns with Shriram Properties' ongoing focus on strengthening its residential portfolio in key metropolitan markets.
Shriram Properties is among the prominent real estate players in India and has already delivered 48 projects, covering a total saleable area of 28.3 million square feet across Bengaluru, Chennai and Kolkata. At present, the company has projects under development across 19 million square feet, highlighting its active expansion pipeline and continued presence in India's real estate sector.
With an estimated gross development value of INR 500 crore and a premium design approach, the project is expected to strengthen its portfolio. Combined with an established track record and large ongoing developments, this latest venture demonstrates the company's sustained focus on growth within the residential real estate sector.
Source - PTI
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