DRA Homes Secures 3.91 Acres in Karanai for ₹49.70 Crore, Plans Major Residential Development.

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 community valued at around ₹500 crore, the company said in a statement.

The proposed development aims to serve mid-income homebuyers, a segment showing strong demand in Chennai, particularly near employment hubs along the OMR corridor.

Ranjeeth Rathod, Managing Director of DRA Homes, said OMR remains 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,” he added.