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The project will have a developable potential of approximately 1.6 million square feet
Bangalore, January 13, 2023:Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has purchased 60 acres on an outright basis in the fast-developing micro market of Oragadam Junction, Chennai.
Spread across ~ 60 acres, the proposed project is estimated to have a developable potential of approximately 1.6 million square of saleable area, comprising primarily of residential plotted development.
The site is strategically located in between Grand South Trunk road (GST road) and NH-4, just off Oragadam Junction (on the 6-lane SH-48) offering access to other parts of the city via Chennai Bypass Road, Chennai Tiruvallur High Road and Red Hills Road.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are happy to add this land parcel to our portfolio. It fits with our strategy of deepening our presence across India's leading cities. We will aim to build an outstanding plotted development project in Chennai that creates long term value for its residents.”
Oragadam Junction is recognized as one of the fastest-growing business and largest industrial corridors of Chennai, with manufacturing facilities of 22 Fortune 500 companies spread across the industrial belt stretching from Sriperumbudur to Oragadam. The area is well-connected via road and rail and offers good civil and social infrastructure consisting of schools, colleges, hospitals and retail outlets.
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