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Shriram Properties scales up plotted development portfolio

Monday, 01 Jun 2020
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Shriram Properties (SPL), a real estate developer, has expanded its plotted land development portfolio through a strategic partnership with SLV Infra Projects, which is engaged in plotted land development in Bengaluru, Karnataka.

SPL has been focusing on partnerships and adopting the development management (DM) model as a growth strategy, leveraging on its brand name and execution experience.

In addition to owned projects, SPL has sought to develop projects either through joint development agreement (JDA) or joint venture with landowners (and in certain cases with financial investors) to reduce upfront costs.

The partnership will start with the launch of a ready-to-construct plotted development project off Magadi Road in Bengaluru, under the brand name Raynal Gardens. The project is spread over 97 acre in west Bengaluru. It also houses a 75,000 sq ft club house, temple, clock tower, open spaces and park.

Shriram Properties entered the plotted development segment in 2019 with the launch of investment-friendly plots ‘Shriram Earth’ off Mysore Road, and premium plots ‘Shriram Rainforest’ off Yelahanka in Bengaluru, and has sold 70 percent of the inventory during the launch phase.

SPL also launched its first plotted development in Chennai, Tamil Nadu within its township project called ‘Shriram One City’.

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