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SPL Acquires 4 Acre Land in Bengaluru

BENGALURU, May 3, 2024: Shriram Properties Limited (“SPL”), announced acquisition of a 4-acre land parcel in the micro market of Chandapura, close to Electronic City in Bengaluru. 

The land parcel, encompassing around 4 lakh square feet of aggregate saleable area, comprises approximately 350 meticulously designed apartments. This Project has revenue potential of over ₹250 crores and is expected to be developed over the next 3 years, says a press release issued by the company. The Company is targeting to launch the Project during the current financial year (FY25).

Commenting on the development, Murali Malayappan, Chairman & Managing Director, SPL said,   “This strategic investment aligns perfectly with our goal of bolstering our presence in Bengaluru, one of our core markets. Chandapura emerges as a vital micro-market with an anticipated surge in demand from the mid-market segment in the foreseeable future. Traditionally, the IT and ITeS sectors have been instrumental in propelling demand within the real estate sphere, a trend we anticipate will persist. Our foremost priority remains delivering top-notch quality swiftly, ensuring utmost satisfaction for our customers.”