The company plans to develop around 1.55 million sq. ft. of residential space on the site, with an estimated gross development value (GDV) of Rs 1200 crore. The project will target premium mid-income and upper-middle-income homebuyers.
The proposed development will comprise a mix of row houses, mid-rise apartments and a 38-storey high-rise residence, along with lifestyle amenities, open spaces and community infrastructure, the company said in a statement.
According to DRA, the location provides access to the OMR employment corridor while remaining connected to established residential markets such as Medavakkam and Sholinganallur.
“South Chennai is evolving rapidly, with the OMR–Medavakkam belt moving beyond being an employment corridor to becoming a mature residential destination,” said Ranjeeth Rathod, Managing Director, DRA.
He said that the acquisition is aimed at addressing changing homebuyer preferences for larger homes, planned communities, open spaces and lifestyle infrastructure.
The Thazhambur acquisition will add to DRA’s residential development pipeline in Chennai. The company currently has projects including DRA Harmony, DRA iHeart, DRA Centralia, DRA Inara and DRA Marina 100, covering apartments and villas, the release noted.
