Shriram Properties Ltd has built a substantial part of its Chennai portfolio along the GST Road corridor that runs through Pallavaram, Tambaram, Perungalathur and Guduvancheri into Chengalpattu district. With a portfolio of 51 thoughtfully developed projects spanning over 31.5 million square feet, primarily in Bengaluru, Chennai, and Kolkata, the company has treated this southern belt as one of its earliest and most consistent Chennai markets rather than a one-off launch location.
The company completed its residential project in Chennai, Shriram Temple Bells - Phase 1 and 2, and its first commercial project, Shriram Gateway, in Chennai, both anchored in this southern stretch of the city. The relationship deepened further when Mitsubishi Corporation, through its subsidiary DRI India Company Limited, made a project-level investment of ₹1,785 million in a residential project at Chennai, Shriram Park63, a Perungalathur development, underlining the scale of institutional capital the company has attracted for its South Chennai pipeline.
Shriram Properties was founded with its first residential project, Shriram Shriranjani, completed in Bengaluru in September 2000, and grew under the umbrella of the Shriram Group before going public. The IPO opened on December 8-10, 2021, raising ₹600.04 crores, and the shares were listed on the BSE and NSE on December 20, 2021. Its later growth targets are explicit: the company's SPLNxT growth blueprint, announced in August 2024, set targets to double sales to ₹5,000 crore and triple revenues to ₹3,000 crore by FY27, with Bengaluru, Chennai and Pune named as the primary markets for that expansion.
The developer's South Chennai cluster sits along the Grand Southern Trunk Road (GST Road / NH32) and the Pallavaram-Thoraipakkam Radial Road, spanning Guduvancheri, Perungalathur and Tambaram. Shriram Shankari in Guduvancheri is the largest of these: the project has 32 towers with 4 floors each and 1,252 units on offer, spread over 36.1 acres, making it one of the spacious housing societies in the Chennai South region, and it carries RERA registration TN/01/BUILDING/0418/2021. A short distance away, Shriram Superstar in Perungalathur/Tambaram is a project offering a superior living experience, well-connected to the city's prominent roads including the Grand Southern Trunk Road and Outer Ring Road, and is ready to move, with construction complete and units available for immediate occupation. Elsewhere in the same belt, the company's footprint includes Shriram Park63, Shriram Joy, Shriram Lakeside Residences and Shriram Temple Bells, all sitting within the Guduvancheri-Perungalathur-Tambaram stretch that the developer itself flags as one of its stronger corridors: Shriram Superstar's integrated township off Tambaram brings community-scale living to one of Chennai's fastest-improving corridors.
The GST Road belt benefits from layered connectivity rather than a single transit line. Shriram Shankari is located at the Pallavaram-Thoraipakkam Radial Road corridor, South Chennai, and this stretch connects GST Road to the OMR IT corridor, effectively linking two of Chennai's largest employment belts. Rail options add to this: Chennai International Airport is located around 20 km away via GST Road, while Guduvancheri and Potheri railway stations sit close to the projects, and the corridor also links onward toward the Outer Ring Road. Along the wider GST Road stretch, tech parks such as Olympia, Tamarai and International are in the vicinity, alongside proximity to office hubs including RMZ Millenia and KG 360 Degrees, while employment nodes further south include MEPZ, Zoho's Chennai campus and The Gateway office park.
Social infrastructure has caught up with the residential growth. Near the Shriram cluster, schools such as Velammal, PSBB Millennium, DAV and various international schools sit within a short driving distance, and residents have access to established hospitals like Annai Arul Hospital and Apollo Hospital. Along the broader GST Road belt, Kasthuri, SIMS and other hospitals are located along the belt, while retail hubs such as Phoenix Marketcity and Palladium malls, and schools including Vidya Mandir, SRM and Velammal Vidhyashram, are nearby.
Shriram Properties' own market commentary places this corridor among the city's better-performing zones: south and suburban corridors like OMR, GST Road, and Pallavaram are outperforming the city average on appreciation, with annual price appreciation of 8 to 12% across key corridors, with premium and infrastructure-linked segments leading the way. On the ground, unit pricing across the developer's South Chennai projects has ranged from the low ₹50-lakh bracket for compact 2 BHK units in Guduvancheri projects to over ₹1.4 crore for larger 3 BHK homes in ready-to-move developments like Shriram Superstar, reflecting the spread between entry-level and completed, immediately deliverable stock in this belt.
Much of this expansion has relied on an asset-light model. The company adopted an asset-light business model, leveraging joint development agreements and partnerships with financial investors, which facilitated accelerated growth by optimizing capital investment. That approach, combined with a long-standing focus on the mid-market segment, explains why the South Chennai cluster carries a mix of compact 1 and 2 BHK entry formats alongside larger 3 BHK homes within the same integrated communities, aimed squarely at end-users working along the GST Road and OMR employment belts rather than at speculative buyers.
