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Godrej Properties Acquires Land Parcel in South Chennai for Residential Project

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Godrej Properties (NSE:GODREJPROP, BOM:533150) has acquired around 47 acres of land through an outright purchase near Old Mahabalipuram Road in South Chennai for a residential project.

The proposed development will primarily include plotted units with a total developable potential of about 1.2 million square feet, according to a company statement on Tuesday. The project is estimated to generate revenue potential of around 5 billion rupees.

Shares of the real estate developer rose over 2% in recent trade.

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