DRA Homes Buys 3.91 Acres in Chennai for ₹49.7 Crore

Certainly! Here’s a rewritten version of the provided content:


NEW DELHI: DRA Homes has purchased 3.91 acres of land in Karanai, located off the Old Mahabalipuram Road (OMR) in Chennai, for ₹49.70 crore.

The company intends to establish a mid-segment residential community on this site, with an anticipated inventory value of approximately ₹500 crore.

Ranjeeth Rathod, the managing director, commented, “The acquisition in Karanai is in line with our strategy and will reinforce our development pipeline in Chennai.”

Earlier in January 2026, the company secured a ₹250 crore debt platform from Yubi to enhance its land acquisition capabilities in high-growth residential areas. This platform consists of secured non-convertible debentures (NCDs), with all proceeds designated for land purchases.

  • Published On Mar 16, 2026 at 03:00 PM IST

Join a community of over 2 million industry professionals.

Subscribe to our Newsletter for the latest insights and analysis delivered to your inbox.

Access all ETRealty industry news directly on your smartphone!

Download App

Feel free to adjust further if needed!

Related Posts

Lucknow to Adopt New House Tax Assessment System

LUCKNOW: The Lucknow Municipal Corporation is introducing the Property Tax Management System (PTMS) to enhance transparency in property tax assessments. This initiative aims to eliminate inconsistencies in tax calculations and mitigate complaints regarding municipal staff harassment. Properties that may be impacted include those with discrepancies between recorded and actual built-up areas, buildings misclassified as residential or commercial, and properties that expanded without proper updates. Additionally, high-value homes and buildings currently outside the tax system will be scrutinized more closely. Currently, inaccuracies in assessments have resulted in small buildings being attributed inflated areas or residential properties being taxed under commercial rates.…

DLF Exits ₹10,000-Crore South Mumbai Project via Hubtown Deal

Realty developers Hubtown and DLF have resolved their longstanding dispute regarding a prominent redevelopment project in south Mumbai, covering 17 acres and estimated to be worth over Rs 10,000 crore. According to sources familiar with the situation, the consent terms include a payment of Rs 800 crore to DLF. This settlement marks the end of DLF’s involvement in the Tulsiwadi urban renewal project near the Willingdon Club in Tardeo, effectively concluding years of litigation and allowing the project to proceed. DLF has officially withdrawn all litigations against Hubtown, Twenty-Five Downtown Realty (formerly Joyous Housing), PNB Housing Finance, and others as…

ED Arrests Two in Sahara Group Money-Laundering Case

NEW DELHI: On Sunday, the Enforcement Directorate (ED) reported the arrest of two individuals, including an executive director from the Sahara Group chairman’s core management team and a property broker closely associated with the group, as part of a money-laundering investigation concerning the Sahara Group and its affiliates. The arrested individuals have been identified as Vailaparampil Abraham and Jitendra Prasad Verma. According to the ED, Abraham had a crucial role in facilitating the sale of Sahara Group properties, many of which allegedly involved significant unaccounted cash transactions. Verma was actively engaged in executing several of these property deals and aided…