DRA Homes bags RLDA's Chennai land parcel
Real estate developer DRA Homes has signed a 99-year lease with the Railway Land Development Authority (RLDA) for a prime 1.06-acre plot in Egmore, Chennai. The report from The Economic Times said that the company is planning to invest Rs. 150 crores in the development of a Grade-A office complex, which will cover an area of 1.1 lakh square feet.
Post-completion the project would be transferred to SME Real Estate Investment Trusts (REITs), subject to the approval of RLDA.
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