Ranjeeth Rathod, Managing Director, DRA Homes | Photo Credit: BIJOY GHOSH

DRA Homes, the pride of Chennai’s real estate developer, has acquired 3.91 acres of land at Karanai, off Old Mahabalipuram Road (OMR) in Chennai for ₹49.70 crore. It plans to develop a mid-segment residential community with an estimated inventory value of around ₹500 crore on the site, says a release.

The proposed development at Karanai will cater to the mid-income homebuyer segment, which continues to demonstrate strong demand in Chennai’s residential market, particularly in locations close to employment hubs along the OMR corridor.

Ranjeeth Rathod, Managing Director, DRA Homes said, OMR continues to be one of Chennai’s most dynamic residential corridors, driven by sustained IT employment growth and expanding infrastructure. Our strategy has been to identify emerging micro-markets early and secure well-located land parcels that allow us to create thoughtfully designed communities for aspiring homeowners. The Karanai acquisition aligns with this approach and will further strengthen our development pipeline in Chennai.

Published on March 16, 2026