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Shriram Properties (SPL) has successfully obtained 100% development rights in an ongoing project in Chennai through its wholly-owned subsidiary, Shrivision Elevations. The acquisition, valued at Rs 185 crore, grants SPL control over phase-2 and 3 of the project, encompassing a saleable area of 1.9 million sq ft. Named ‘Divine City’, the project is an approved residential development with a total saleable area of 3.2 million sq ft, to be developed in three phases. The first phase, covering 1.3 million sq ft, was previously launched under the brand ‘Shriram Divine City’ with SPL acting as the development manager. The project holds a promising revenue potential of approximately Rs 1,200 crore over the next five years.
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Note: Note: The above-mentioned news was first published by us in our ProjectX India | 1st July 2023 edition.. To get this issue or our latest issue with full contact details, you can buy this issue by clicking here…
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