The land parcel in question is located off the old Mahabalipuram road (OMR), which is one of the fast-growing micro markets in South Chennai, the company said.
The proposed development on the land parcel will comprise primarily plotted residential units and is expected to offer a developable potential of 12 million square feet with an estimated revenue potential of ₹500 crore, the company added.
The site is well-connected via OMR and provides access to key employment hubs across the Siruseri-Kelambakkam corridor, including SIPCOT and emerging nodes such as Vandalur, Guduvanchery and the wider Mahabalipuram region, it said.
The location has access to healthcare facilities, educational institutions, retail and entertainment options.
“South Chennai is seeing a clear evolution in residential demand, with homebuyers increasingly gravitating towards well-planned, future-ready communities that offer quality of living and long-term value. This belt has emerged as one of the most promising residential micro markets in the region, supported by improving infrastructure and growing end user interest,” Gaurav Pandey, the MD and CEO of Godrej Properties, said.
On the valuation front, Godrej Properties is currently trading at a financial year 2027 price-to-earnings multiple of 23.5 times and 16.5 times on a financial year 2028 basis. That is along similar lines to its peer Lodha Developers, which trades at 23.2 times financial year 2027 and 19.9 times financial year 2028 estimated earnings.
23 analysts have coverage on Godrej Properties, of which 16 have a “buy” recommendation on the stock, five have a “hold” rating and two have a “sell” rating.
Shares of Godrej Properties were trading 0.8% up at ₹1,844.2 apiece at 10.25 am on Tuesday. The stock has gained 7.6% in the past month but is down 8.5% this year, so far.
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First Published: Jun 30, 2026 8:40 AM IST
