The company did not disclose the deal size and the name of the sellers.
The proposed development on this land will comprise primarily plotted residential units and is expected to offer a developable potential of 1.2 million square feet, with an estimated revenue potential of Rs 500 crore, the company said in a statement.
The site is well connected via OMR, providing access to key employment hubs across the Siruseri–Kelambakkam corridor, including SIPCOT as well as emerging nodes such as Vandalur, Guduvanchery, and the wider Mahabalipuram region, it added.
The location is supported by a steadily evolving social infrastructure, with access to healthcare facilities, educational institutions, retail, and entertainment options, contributing to its growing appeal as a residential destination, the company said.
“South Chennai is seeing a clear evolution in residential demand, with homebuyers increasingly gravitating towards wellplanned, future-ready communities that offer quality of living and long-term value,” Gaurav Pandey, MD & CEO, Godrej Properties, said.
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, he said.
“Our focus is on creating thoughtfully designed developments that align with these changing expectations and deliver enduring value over time, as we continue to strengthen our presence in Chennai,” Pandey added.
Godrej Properties’ acquisition of a 47-acre land parcel off OMR is a significant vote of confidence in South Chennai’s long-term residential growth story, Sanjay Chugh, Director and City Head, Anarock Property Consultants, said.
The OMR corridor has steadily evolved from being predominantly an IT and office destination into a mature residential market, supported by strong employment generation, improving social infrastructure, educational institutions, healthcare facilities and enhanced connectivity, he added.
The acquisition also underscores the growing interest of large, branded developers in creating integrated residential communities in locations where infrastructure is keeping pace with urban expansion. The plotted development format, in particular, has witnessed healthy demand over the past few years, driven by homebuyers seeking greater flexibility, lower entry costs and the long-term potential for capital appreciation, Chugh said.
He also noted that the transaction reinforces three key trends.
First, demand for residential development in South Chennai continues to remain resilient, particularly in well-connected micro-markets along OMR.
Second, landowners are increasingly partnering with reputed developers, reflecting confidence in the region’s future.
Third, as infrastructure projects—including the Chennai Metro expansion and road network improvements—progress, South Chennai is expected to attract further institutional investment and sustain healthy residential demand over the medium to long term.
Overall, this acquisition is less about a single transaction and more about the continued confidence of national developers in Chennai’s residential fundamentals and the long-term growth prospects of the OMR corridor, Chugh said.