Chennai, Mar 16: DRA Homes, the pride of Chennai’s real estate and one of India’s fastest-growing residential developers, today announced that it has acquired 3.91 acres of land at Karanai, off Old Mahabalipuram Road (OMR) in Chennai for ₹49.70 crore, as part of its continued strategy to expand its development pipeline across the city’s high-growth residential corridors. The company plans to develop a mid-segment residential community with an estimated inventory value of around ₹500 crore on the site.
Strategically located along the rapidly expanding OMR corridor, the project will benefit from proximity to major IT and business hubs including Sholinganallur, Navalur and Siruseri, making it an attractive residential destination for professionals working in Chennai’s thriving technology ecosystem. The micro-market has witnessed steady residential demand driven by strong employment growth, improving infrastructure and expanding social amenities.
The acquisition forms part of DRA Homes’ broader strategy of securing well-located land parcels in emerging micro-markets with strong long-term residential demand. The company has been steadily strengthening its development pipeline across Chennai through strategic land acquisitions in growth corridors that offer strong potential for end-user demand and long-term value creation.
The proposed development at Karanai will cater to the mid-income homebuyer segment, which continues to demonstrate strong demand in Chennai’s residential market, particularly in locations close to employment hubs along the OMR corridor.
Commenting on the acquisition, Mr. Ranjeeth Rathod, Managing Director, DRA Homes said,
“OMR continues to be one of Chennai’s most dynamic residential corridors, driven by sustained IT employment growth and expanding infrastructure. Our strategy has been to identify emerging micro-markets early and secure well-located land parcels that allow us to create thoughtfully designed communities for aspiring homeowners. The Karanai acquisition aligns with this approach and will further strengthen our development pipeline in Chennai.”
“At DRA, we focus on locations where strong employment drivers and infrastructure growth can create long-term value for homeowners. This project will be designed to deliver efficient layouts, modern lifestyle amenities and community-centric living for professionals and families along the OMR corridor.” concluded Mr. Rathod.
In recent years, DRA Homes has acquired and launched projects in several emerging residential locations across Chennai as part of its strategy to build a strong pipeline in high-growth micro-markets.
The upcoming project at Karanai will reflect DRA Homes’ focus on efficient planning, modern amenities and thoughtfully designed communities, catering to the growing base of professionals working along the OMR corridor.
