The OMR Boom: DRA Homes Invests ₹50 Cr in Karanai Land

DRA Homes has acquired 3.91 acres of land in Karanai, off Old Mahabalipuram Road (OMR), for ₹49.70 crore, with plans to develop a mid-segment residential project valued at շուրջ ₹500 crore, the company said.

The proposed development will target mid-income homebuyers, a segment witnessing strong demand in Chennai, particularly near key employment hubs along the OMR corridor.

Ranjeeth Rathod, Managing Director of DRA Homes, said OMR continues to be one of Chennai’s most active residential corridors, driven by steady growth in the IT sector and ongoing infrastructure development. “Our strategy is to identify emerging micro-markets early and secure well-located land parcels to create thoughtfully planned communities for aspiring homeowners. The Karanai acquisition aligns with this vision and strengthens our development pipeline in Chennai,” he said.

News by Rahul Yelligetti.