Godrej Properties acquires 47-acre plot in South Chennai for ₹500 crore

Godrej Properties Limited (GPL) has acquired a 47-acre plot of land located at Old Mahabalipuram Road (OMR), one of the fastest growing micro markets in South Chennai. The company declined to disclose the identity of the seller or the value of the transaction, but said the land was acquired through an outright purchase. This land has a development potential of 1.2 million square feet with an estimated revenue potential of ₹500 million (based on current business assumptions).

Gaurav Pandey, MD & CEO, Godrej Properties said, “South Chennai is witnessing a clear development in residential demand, with home buyers increasingly gravitating towards well-planned, future-ready communities that offer quality living and long-term value.”

“We want to develop a premium mapped development project. We will start the design development process and simultaneously start filing all the necessary approvals. The construction activities will start after receiving all the necessary approvals,” said Ashwini Kalapala, Managing Director, South Zone, Godrej Properties.

Godrej Properties already has four projects in Tamil Nadu, excluding the one it has currently signed. It has two residential projects – the first is a completed project with a development size of approximately 0.7 million square feet. In the second project, two phases with a total area of ​​approximately 0.45 million square feet have already been constructed and handed over. A new phase of approximately 0.57 million square feet is currently under construction.

The company has two projects in the plotted development category. A completed 60-acre mapped development with a salable area of ​​approximately 1.5 million sq.ft and a recently signed 43.6-acre mapped development in Coimbatore with an estimated salable area of ​​approximately 1.1 million sq.ft, scheduled for launch in the coming months.

Published – 1 July 2026 0:10 AM IST