Shriram Properties clinches a ₹500 crore property deal in Yelahanka, reviving a property pipeline with a 6.5-acre upscale residential real estate project.

Shriram Properties Limited (SPL) has executed a joint development deal for 6.5 acres of land in North Bengaluru, Yelahanka (gross development value, GDV), worth ₹500 crore. The project will cover 0.6 million sq. ft. of saleable space and will be launched next financial year.

Thoughtfully designed adjacent to the planned 154-acre Madapanahalli Biodiversity Park, the development will provide future residents with the close proximity of green areas, such as plantations, gardens, and an aviary. According to SPL, the project aligns well with their asset-light strategy and contributes significantly to their expanding real estate pipeline.

Akshay Murali, the vice president of business development at SPL, stated that this project is unique due to the changing terrain of Yelahanka and its proximity to both the military park and the Biodiversity Park.

In July, SPL introduced its Electronic City premium residential project, Codename: The One, with a revenue potential of ₹350 crore. The project, which includes 340 luxury apartments, is expected to take three years to complete and will be the tallest sky terrace in south Bengaluru.

As it moves towards the goal of doubling its sales to ₹5,000 crore and expanding to major cities, SPL continues to establish itself as a strong player in the real estate industry in India.