Shriram Properties expands its plotted development portfolio; Partners with SLV Infra Projects
Shriram Properties Limited (SPL), one of South India’s leading residential real estate development company, announced further expansion of its plotted land development portfolio through a strategic partnership with SLV Infra Projects, which is engaged in plotted land development in Bangalore.
This partnership will start with the launch of a ready-to-construct plotted development project off Magadi Road Bengaluru, under the brand name of “Raynal Gardens”. Starting at just INR 40 Lakhs, this 97-acre pristine development is one of the few plotted development project in west Bengaluru that has a 75,000 sqft clubhouse, a temple, a clock tower, treelined avenues on both sides of the road, open spaces like parks and gardens along with other outdoor and indoor amenities such as a gym, swimming pool, café, guest rooms, yoga hall, sports areas and more. This plotted development project has been designed in cognizant with the community and with an aim to give back to the community we serve.
Commenting on the business expansion, Mr. Murali Malayappan – Chairman and Managing Director – Shriram Properties stated that, “Through this collaboration with SLV , the Company plans to launch 4-5 plotted land development projects in 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, “Land is considered to have a healthy appreciation value more than any other asset classes because of its averseness to market sentiments.” 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% of their inventory during the launch phase. SPL also launched its first plotted development in Chennai within its township project called “Shriram One City”.
Shriram Properties Ltd. (SPL) has been focusing on growth through successful partnerships and adopting development management (DM) model as a growth strategy. Leveraging on its brand name and execution experience, SPL’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 up-front costs. The company has developed many properties through this model and it is planning to further adopt this model in markets like Chennai, Bengaluru, Kolkata, Vizag and Coimbatore.
Commenting on the association, Mr. Kishore Kumar – Managing Director, SLV Infra Projects said, “We are delighted to have a long term association with one of the reputed and trusted developers, Shriram Properties. 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 Bangalore 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.”