Key facts
- Shriram Properties signed a joint development agreement for 9.1 acres in Doddagubbi, Bengaluru.
- The project is expected to have a development potential of over 6.7 lakh sq ft.
Shriram Properties has entered into a joint development agreement for a 9.1-acre land parcel in Doddagubbi, Bengaluru. The company plans to develop a residential project with a potential area of over 6.7 lakh sq ft and an estimated gross development value exceeding Rs 600 crore.
This joint development agreement expands Shriram Properties' project pipeline in a key growth area of Bengaluru, reinforcing its strategy of asset-light expansion and catering to the mid-market residential segment.
Shriram Properties has entered into a joint development agreement for a 9.1-acre land parcel located at Doddagubbi in north-east Bengaluru. The developer intends to construct a residential project on this land, with an anticipated development area exceeding 6.7 lakh square feet and a projected gross development value of over Rs 600 crore.
This strategic move is expected to bolster Shriram Properties' development pipeline within Bengaluru and aligns with its growth strategy of utilizing asset-light development models in promising micro-markets. The company highlighted North-East Bengaluru as a key growth corridor due to its infrastructure, connectivity, and consistent end-user demand.
Shriram Properties primarily targets the mid-market and mid-premium segments and has a significant presence in Bengaluru, Chennai, Pune, and West Bengal. To date, the company has completed over 50 projects, encompassing more than 31.5 million sq ft of development across Bengaluru, Chennai, and Kolkata.