Overview

Marking Mitsubishi’s entry into the Indian real estate sector, the company’s investment arm and Shriram Properties signed definitive agreements for partnership in an ongoing large residential development project in Chennai Under the agreement, Mitsubishi is investing Rs 180 crores towards a 70% stake in an ongoing residential project named “Shriram Park 63”. The project is under development at GST Road in Chennai, with 1,450 residential units and 2 million square feet of saleable area. Shriram said that it has a pre-sales of over 25% of the project that the project’s revenue potential is pegged at over Rs.1,000 crores over the next 3-4 years.