New Delhi: Realty firm Godrej Properties has bought a 47-acre land parcel in Chennai to sell residential plots and expects an estimated revenue of Rs 500 crore from this upcoming project.
In a regulatory filing on Tuesday, the company said it has acquired a 47-acre land parcel in South Chennai through an outright purchase.
The proposed development on this land will comprise primarily plotted residential units.
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The project is expected to offer a developable potential of 1.2 million square feet, with an estimated revenue potential of Rs 500 crore, Godrej Properties said.
The company did not disclose the deal value.
Gaurav Pandey, MD & CEO of Godrej Properties, said, "South Chennai is seeing a clear evolution in residential demand, with homebuyers increasingly gravitating towards well planned, future-ready communities that offer quality of living and long-term value."
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, he added.
Pandey said this acquisition would help strengthen the company's presence in Chennai property market.
Godrej Properties is one of the leading real estate developers in the country.
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Earlier this month, Godrej Properties acquired a 23.2-acre land parcel in Greater Noida through auction for over Rs 500 crore to develop a housing project and aims to generate Rs 7,000 crore in revenue from the upcoming asset.
During 2025-26 fiscal, Godrej Properties acquired 18 land parcels to develop housing projects, which have a combined revenue potential of Rs 42,100 crore, as part of its expansion plan to meet strong consumer demand.
The company emerged as the largest listed real estate developer during the last fiscal in terms of sales bookings.
Mumbai-based Godrej Properties' sales bookings last fiscal rose to Rs 34,171 crore from Rs 29,444 crore in the preceding year.
