Shriram Properties Limited (SPL), a leading real estate developer in South India, has recently informed exchanges that the company signed a Joint Development Agreement (JDA) to develop prime land at Koyambedu, Chennai. This strategic expansion aligns with SPL’s asset-light growth approach, reinforcing its position in the mid-market and mid-premium residential segment.
The upcoming project in Koyambedu, a rapidly evolving micro-market, will span 3.2 lakh square feet of saleable area and is expected to generate revenue between ₹350 to ₹400 crores. Targeted for launch in early FY26, this development will offer modern, high-quality residences with excellent connectivity and urban conveniences.
Koyambedu is a key location within Chennai’s urban transformation, featuring seamless access to Metro and railway stations, along with essential infrastructure that enhances its appeal. With this project, SPL aims to create an iconic residential landmark, catering to the growing demand for premium homes in this sought-after neighborhood.
Murali Malayappan, CMD of SPL, commented, “This investment aligns with our asset-light strategy to drive accelerated growth. Chennai presents a promising market with immense potential for established brands like Shriram. This micro market is well established and hotspot of prime developments. We are looking forward to its launch in early next financial year and remain committed to delivering top-notch quality and utmost satisfaction for our customers”.
