Godrej Properties acquired 47 acre land in OMR region, South Chennai
Godrej Acquires 47-Acre Land Parcel in High-Growth South Chennai Corridor
Godrej Properties Limited announced the acquisition of approximately 47 acres through outright purchase located off Old Mahabalipuram Road (OMR), one of the fast-growing micro markets in South Chennai. The proposed development will comprise primarily plotted residential units and is expected to offer a developable potential of approximately 1.2 million square feet, with an estimated revenue potential of approximately INR 500 crore.
Strategic Location and Connectivity
The site is well connected via OMR, providing access to key employment hubs across the Siruseri-Kelambakkam corridor, including SIPCOT as well as emerging nodes such as Vandalur, Guduvanchery, and the wider Mahabalipuram region. The location is supported by a steadily evolving social infrastructure, with access to healthcare facilities, educational institutions, retail, and entertainment options, contributing to its growing appeal as a residential destination.
OMR as a Residential Growth Market
Old Mahabalipuram Road is a busy location and an aspiring residential destination known as Chennai's IT corridor, with the presence of IT Parks, connection to strategic locations, and anticipated infrastructural developments elevating this location to the status of Chennai's main growth corridor. The second phase of the Chennai Metro, spanning 118.9 kilometers and covering territories from Madhavaram to SIPCOT, will primarily benefit the communities along the OMR.
Godrej's Strategic Expansion in South India
Godrej Properties is on a mission to expand its presence in the southern market, aiming for a robust 30% annual growth over the next two years; in the past nine months, the company acquired two sizable land parcels, totalling over 6 million sq ft, in Bengaluru and Chennai, with an anticipated booking value of Rs 36 billion. Godrej Properties has ambitious plans for the newly acquired land parcels, intending to develop two extensive residential projects in Chennai and Bengaluru, in addition to procuring more land for future ventures.
Godrej Properties' existing OMR presence includes Godrej Azure, a residential project on Old Mahabalipuram Road, Chennai, spread over 8.3 acres of land, which has been completed and occupied by residents. This new acquisition marks a significant expansion of the developer's footprint along this emerging residential corridor.
According to MD and CEO Gaurav Pandey, South Chennai is seeing a clear evolution in residential demand with homebuyers gravitating towards well-planned, future-ready communities; this belt has emerged as one of the most promising residential micro markets in the region, supported by improving infrastructure and growing end user interest, and the company's focus is on creating thoughtfully designed developments that align with these changing expectations and deliver enduring value over time.