Shriram Properties Plans ₹600 cr Housing Project in Bengaluru

On October 27, shares of Shriram Properties surged by nearly 6 percent after the firm declared that it has entered into a joint development agreement (JDA) for a 7-acre land parcel which is a part of a larger agreement for approximately 15 acres of land in North Bengaluru. 

The shares of the company hit an intraday high of Rs 93.25 apiece, resulting in a closing price of Rs 89.60, up by 2 percent from the previous close. Shriram Properties announced that it plans to develop a premium row houses project with an estimated GDV potential of around Rs 600 crore.

"The project, strategically located in one of North Bengaluru’s highly valued micro-markets, will deliver an exclusive row-house living experience with modern architectural principles that are sustainable, nature-inspired and design led, the company said in an exchange filing.

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The upcoming project is positioned beside the soon-to-be-unveiled Madappanahalli Biodiversity Park, also known as the ‘Mini Lalbagh’. "Spread across 154 acres, Mini Lalbagh is being transformed from eucalyptus plantations into a lush biodiversity hub featuring themed gardens, an aviary, a nature park, and a medicinal plant zone." it added.

Speaking about the development, Akshay Murali, Vice President – Business Development at Shriram Properties, said the company believes that great homes should offer both comfort and connection - with people, place, and nature. "Our upcoming Yelahanka project embodies this philosophy, combining elegant design, modern amenities, and green surroundings to create a truly enriching living experience for today’s discerning homebuyers. Yelahanka’s strong infrastructure growth and proximity to the upcoming biodiversity park make it an exceptional location for premium row houses. We are confident this development will redefine the residential landscape in North Bengaluru," he added.