Shriram Properties Limited (SPL) has unveiled its latest residential project, ‘Codename — Pudhiya Chennai’, in Chennai’s Thirumazhisai neighbourhood. The RERA-approved project offers 1.1 million square feet of saleable area and is expected to generate revenue of approximately ₹550-600 crore.
The shares of Shriram Properties Limited (SPL) were trading at 131.48, up by ₹1.25 or 0.96 per cent, on the NSE at 2.20 pm.
The project features two- and three-bedroom apartments with amenities, including fitness centres, landscaped leisure spaces, and a clubhouse. Located in West Chennai, it is close to transit points such as the Thirumazhisai Metro Station, New Mofussil Bus Terminus, Chennai-Bangalore Expressway, and the upcoming Parandur Airport.
Vivek Venkateswar, Chief Sales and Marketing Officer at SPL, expressed confidence in the project’s long-term value and appreciation potential, citing the company’s extensive experience in Chennai’s real estate market.
This launch adds to SPL’s portfolio of 42 ongoing projects with a total development potential of 42.1 million square feet as of June 30, 2024. The company, part of the Shriram Group, focuses primarily on mid-market and mid-premium segments in South Indian markets.