Shriram Properties Ltd has signed a development agreement for a large-scale project in Pune, involving the construction of 650,000 soft apartments with a Gross Development Value (GDV) of Rs 7 billion. This strategic move strengthens the company’s presence in Pune’s real estate market.
Shriram Properties Limited, a prominent real estate developer, has entered into a development agreement for a significant residential project in Pune. The agreement covers the development of 650,000 square feet of residential apartments, promising a Gross Development Value (GDV) of Rs 7 billion. This expansion aligns with Shriram Properties’ growth strategy in high-potential urban markets like Pune.
Key Highlights:
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The project involves the construction of expansive residential accommodations with modern amenities targeting growing urban demand.
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Pune, known for its booming real estate sector and rising demand for quality housing, is a strategic location for this development.
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The GDV of Rs 7 billion underscores the project’s scale and potential impact on Shriram Properties’ portfolio.
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The agreement marks a significant partnership, reflecting investor and market confidence in the company’s development capabilities.
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This initiative supports Shriram Properties’ commitment to delivering value-driven real estate solutions in key metro and emerging markets.
With this project, Shriram Properties aims to capitalize on Pune’s growing housing needs, enhancing its footprint and contributing to urban development.
Sources: Reuters, NSE India, Shriram Properties official communication [web: RTRS]