Real estate developer Shriram Properties Limited (SPL) has signed a Joint Development Agreement (JDA) for a 4-acre land parcel near Yelahanka in north Bengaluru.
The proposed project will comprise 270 apartments with an aggregate saleable area of around 3.8 lakh sqft. The project has an aggregate revenue potential of over ₹250 crore, and is expected to be developed over the next three years.
The realtor is targeting the launch of the project during the first half of the current financial year.
Murali Malayappan, CMD, SPL said, “This investment is in alignment with our goal of increasing our footprint within Bengaluru and highlights our asset light approach to accelerate growth.”
The developer claims to have a pipeline of 47 projects with 51 million sqft of saleable area, including 25 ongoing projects with aggregate saleable area of 23.5 million sqft as of March 31, 2024.
