Shriram Properties (SPL), a prominent developer in the mid-market and mid-premium residential real estate sector, has entered into a joint development agreement (JDA) for a 6.5-acre land parcel located in Yelahanka, North Bengaluru.
The upcoming project, expected to launch in the next financial year, will comprise premium residential apartments with a saleable area of 0.6 million sq. ft. and an estimated gross development value (GDV) of Rs 500 crore.
Designed to be a landmark addition to the city’s skyline, the project will overlook the forthcoming 154-acre Madapanahalli Biodiversity Park, which will feature a medicinal garden, aviary, zoo, and tree park.
This development underscores SPL’s asset-light growth strategy and its dedication to fostering sustainable living environments. Emphasizing the importance of the project, Akshay Murali, Vice President – Business Development at SPL, stated, “This project represents a significant milestone in our mission to create landmark developments that harmoniously integrate luxury living with ecological sustainability.” With this new addition, SPL continues to enhance its project pipeline across its key markets, including Bengaluru, Chennai, Pune, and Kolkata.
