DRA Homes Acquires Marina Mall Residences in Chennai for ₹25.10 Crore
Chennai real estate: DRA Homes acquires Marina Mall residences, a mix-use development with mall, hotel, and sea-facing housing units.
Dra HomesMarina Mall ResidencesChennai Real EstateYubiFintech PlatformReal EstateSep 25, 2024
The Marina Mall Residential Project, located on the Old Mahabalipuram Road, offers a unique lifestyle with an integrated mall, hotel, and sea-facing residences. The project is spread across 6.58 acres and includes a 5.12-lakh square feet mall, 1.5-lakh square feet hotel, and a sea-facing residential tower spanning 1.53 lakh square feet.
According to DRA Homes Managing Director Ranjeeth Rathod, the company expects to secure the necessary approvals for the residential development within six months and complete the project by 2027. Rathod also highlighted that the company expects a revenue of ₹153 crore from this acquisition.
Frequently Asked Questions
What is the value of the Marina Mall Residences acquired by DRA Homes?
₹25.10 crore
Who facilitated the funding for the acquisition of Marina Mall Residences?
Fintech platform YuBi
What is the expected revenue from the acquisition of Marina Mall Residences?
₹153 crore
When is the expected completion of the Marina Mall Residential Project?
2027
What is the footprint of DRA Homes in the real estate sector?
Over 10 million square feet, largely in the mid and upper mid residential segments
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