Shriram Properties to Launch Residential Project in Chennai Under Joint Development

Shriram Properties (SPL) has entered into a joint development agreement to redevelop a prime land parcel in Koyambedu, Chennai, with a new residential project. The project, which will have a 3.2 lakh square feet saleable area, is expected to generate a revenue of ₹350 crore and ₹400 crore. The development is through the next three years and is expected to be launched in early FY26.

SPL Chairman and Managing Director Murali Malayappan also sounded positive and said, “This investment is in line with SPL’s asset-light strategy to drive accelerated growth. We are excited about its launch in early next financial year.”

This development marks a new venture for Shriram Properties as it continues to strengthen its presence in Chennai’s real estate industry. The company has been streamlining predominantly, on both strategic partnerships and asset-light investments.

Earlier, in December 2024, SPL Shelters, a 100% subsidiary of the company, managed to sell out a 3.9-acre land parcel in Chennai for ₹93 crore as part of a healthcare and educational group.

SPL ventures into residential spaces against a backdrop of sustained demand. City’s residential demands remain steady across the board, particularly in areas with highways, like Koyambedu, making for an attractive proposal for home buyers and investors alike.