Real Estate

Shriram Properties expands its plotted development portfolio in Bengaluru

Our Bureau Bengaluru | Updated on June 01, 2020 Published on June 01, 2020

Shriram Properties Limited (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.

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. The company’s business model largely centres around the asset-light business strategy.

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

The partnership would start with the launch of a ready-to-construct plotted development project off Magadi Road in Bengaluru, under the brand name Raynal Gardens. Starting at just ₹40 lakh, the project is spread over 97 acres in west Bengaluru. The project also houses a 75,000-sq ft club house, temple, clock tower, open spaces and park.

Murali Malayappan, Chairman and Managing Director, Shriram Properties, said, “Through this collaboration with SLV, the company plans to launch four to five plotted land development projects in the next few months. I believe that this collaboration will be a good opportunity for property buyers, who would like to invest in an aspiring premium class plotted land development.”

He added, “Shriram Properties has entered the plotted development segment last year with the launch of investment-friendly plots ‘Shriram Earth’ off Mysore Road, and premium plots ‘Shriram Rainforest’ off Yelahanka in Bengaluru, and have sold 70 per cent of the inventory during the launch phase. SPL also launched its first plotted development in Chennai within its township project called ‘Shriram One City’.

Commenting on the association, Kishore Kumar, Managing Director, SLV Infra Projects, said, “Our first project through this partnership Raynal Gardens is a perfect bet for anyone who would want to build their independent home, away from the bustle of Bengaluru, yet very well connected to the city. We are sure that our upcoming plotted land projects will also be a perfect choice for aspirational property buyers and investors.”

Published on June 01, 2020
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