Godrej Properties Limited (GPL) has acquired a 47-acre land parcel in South Chennai through an outright purchase, the company announced on Monday. The site is located off Old Mahabalipuram Road (OMR), a fast-growing micro market in the city’s southern belt.
The Mumbai-based developer said the proposed project will comprise primarily plotted residential units, with an estimated developable potential of about 1.2 million square feet and a projected revenue potential of approximately ₹500 crore. The company noted these figures are based on current business assumptions.
The land is positioned along the OMR corridor, giving it access to employment hubs in the Siruseri-Kelambakkam belt, including the SIPCOT industrial area, as well as developing nodes such as Vandalur, Guduvanchery and the broader Mahabalipuram region. GPL said the location also benefits from established social infrastructure, including healthcare, education, retail and entertainment facilities.
Gaurav Pandey, MD & CEO of Godrej Properties, said South Chennai is witnessing growing residential demand as homebuyers shift toward well-planned, future-ready communities. He said the company would continue to expand its presence in Chennai with developments aligned to changing buyer expectations.
GPL’s stocks were trading at ₹1,874.90 on the NSE, up 2.45 per cent or ₹44.80, on a trading volume of 4 lakh shares valued at ₹74.50 crore. The company’s market capitalisation stood at ₹56,479.87 crore.
Godrej Properties describes itself as India’s largest residential developer by both value and volume of homes sold, having delivered homes to over 100,000 families. The company is part of the Godrej Industries Group, which traces its legacy back 129 years. As of December 2025, GPL said it was ranked the top real estate company globally on both the Dow Jones Best-in-Class Sustainability Indices and the Global Real Estate Sustainability Benchmark.