DRA Homes Acquires Prime Land in Chennai for New Housing Project
Real estate firm DRA Homes has purchased a 4.38-acre plot in Chennai for Rs 50 crore to build a mid-segment housing project. The development, expected to generate Rs 650 crore in revenue, will offer nearly one million sq ft of homes and managed residential services for short-term stays.
- Country:
- India
DRA Homes, a prominent real estate developer, has announced its acquisition of a 4.38-acre parcel in Chennai, valued at Rs 50 crore, for a new housing project.
The land purchase, inclusive of stamp duty, will host a development at Chembarambakkam. The project is set to feature nearly one million square feet of mid-segment homes, catering to flexible short-term stays with managed residential services.
DRA Homes anticipates generating Rs 650 crore in revenue from this venture, leveraging its established track record of delivered projects across Chennai.
(With inputs from agencies.)
Advertisement
Google News