DRA Homes Forays Into Commercial Development; Allots Rs 150 Crore

DRA Homes would earmark Rs 150 crore as part of its agreement with the Railway Land Development Authority to develop a commercial complex in the city, the real estate developer said on Tuesday.

DRA Homes emerged as the highest bidder and has bagged the 99-year lease from RLDA for developing a 1.06-acre plot in Egmore here.

"DRA Homes is set to invest Rs 150 crore for the development of an A-grade office complex," the company said in a statement.

The company would also focus on securing Indian Green Building Certification for the project.

"Our collaboration with RLDA marks a significant milestone in our journey, delivering exceptional office spaces that will redefine the urban landscape," said DRA Homes, Managing Director, Ranjeeth Rathod.

"Our vision for this project is to create top-tier office buildings that not only meet the highest standards of sustainability but also foster a vibrant and conducive work environment for businesses," he said.