Godrej Properties buys 47 acres in Chennai for ₹500 crore project

Godrej Properties has picked up a 47-acre land parcel in South Chennai for a plotted residential project with an estimated revenue potential of ₹500 crore, the company said in a regulatory filing Tuesday.

The developer bought the land outright. It did not disclose the deal value. The project will cover roughly 1.2 million square feet of developable area, mostly residential plots.

Managing Director and CEO Gaurav Pandey said South Chennai is seeing growing residential demand on better infrastructure and rising end-user interest. Homebuyers want well-planned communities that offer long-term value, he said, adding that the acquisition fits the company's strategy for high-potential micro-markets.

The Chennai purchase follows a 23.2-acre land buy in Greater Noida through a government auction for over ₹500 crore. That project is expected to generate ₹7,000 crore in revenue.

Godrej Properties has acquired 18 land parcels in the 2025-26 financial year with a combined estimated revenue potential of ₹42,100 crore, according to the exchange filing. It has added projects across Mumbai, Delhi-NCR, Bengaluru, Pune and Chennai as demand for homes from established developers stays strong.

The company recorded sales bookings of ₹34,171 crore last financial year, up from ₹29,444 crore the previous year, making it India's largest listed real estate developer by sales bookings, per PTI.

South Chennai is one of the city's fast-growing residential corridors. Improving connectivity and infrastructure have supported housing demand and drawn fresh development.