DRA Homes Acquires Prime Land in Chennai for New Housing Project

Real estate firm DRA Homes has purchased a 4.38-acre plot in Chennai for Rs 50 crore to build a mid-segment housing project. The development, expected to generate Rs 650 crore in revenue, will offer nearly one million sq ft of homes and managed residential services for short-term stays.

DRA Homes, a prominent real estate developer, has announced its acquisition of a 4.38-acre parcel in Chennai, valued at Rs 50 crore, for a new housing project.

The land purchase, inclusive of stamp duty, will host a development at Chembarambakkam. The project is set to feature nearly one million square feet of mid-segment homes, catering to flexible short-term stays with managed residential services.

DRA Homes anticipates generating Rs 650 crore in revenue from this venture, leveraging its established track record of delivered projects across Chennai.