Shriram Properties Limited (SPL) has strategically sold a 3.9-acre land parcel in Chennai to a leading healthcare and educational group in South India. The land, owned by SPL’s wholly-owned subsidiary, SPL Shelters Private Limited, is located on GST Road—one of Chennai’s most sought-after locations.
Currently approved for retail development, the land parcel is adjacent to a fully operational 4.0 million sq. ft. office complex and the 2.0 million sq. ft. residential project, Shriram Park 63. This prime location offers immense potential for retail and commercial ventures.
The sale aligns with SPL’s strategy to focus on residential real estate, particularly in the mid and mid-premium segments. By monetizing non-core assets, SPL aims to unlock value and reinvest the proceeds into expanding its residential portfolio. This move underscores SPL’s commitment to delivering quality homes while ensuring financial prudence and sustainable growth.
The divestment also highlights SPL’s adaptability in leveraging strategic opportunities to fuel its long-term vision. The proceeds from this sale will be directed towards strengthening its residential development pipeline, ensuring consistent growth and value creation for stakeholders.
