Urbanrise was founded in 2017 as a residential brand under the Bengaluru-headquartered Alliance Group, an established South Indian developer with decades of construction experience. From that base, the company concentrates exclusively on the South Indian triangle of Chennai, Hyderabad and Bengaluru, with Chennai addresses spanning OMR, Sholinganallur, Padur, Siruseri, Tambaram and Thiruvallur. Kelambakkam sits squarely in the middle of that Chennai footprint — a deliberate choice rather than opportunistic expansion.
The active portfolio spans premium apartments, villas, villa plots and integrated townships totalling around 72 million square feet under development and planning, with flagship addresses including The World of Joy on OMR Chennai and Revolution One. Behind that scale is institutional capital: capital partners include Kotak Realty Fund, the Abu Dhabi Investment Authority (ADIA) and IndoStar Capital Finance.
The Alliance Group platform underpinning Urbanrise has successfully built over 72 million sq ft of residential spaces, with a portfolio valued at Rs 51,000 crores. That operational depth matters for buyers in a pre-delivery stage project: Urbanrise operates as an integrated platform within the Alliance Group ecosystem, keeping land acquisition, design, construction, sales and customer care under one roof, which means a single point of accountability from booking through handover.
Urbanrise Jasmine Springs is an under-construction premium apartment project launched in Kelambakkam, on Old Mahabalipuram Road, Chennai. The project address is Survey No-1373, Thayyur, OMR Kelambakkam, Chennai, Tamil Nadu 603103. Its position on OMR proper — rather than in an interior lane — gives it direct road access to the corridor's employment and retail spine.
The location has strong proximity to Polaris Hub and Siruseri SIPCOT, with the site sitting on Old Mahabalipuram Road in Kelambakkam near existing and upcoming educational institutions, communities and facilities. The project is built using MIVAN aluminium formwork construction technology, and Urbanrise aims to deliver a quality living experience to the Kelambakkam community through Jasmine Springs.
Amenities at Urbanrise Jasmine Springs include a fully equipped clubhouse, landscaped gardens, gymnasium, swimming pool, recreation rooms, health centres, children's play area, learning areas, party hall and 24/7 security.
Jasmine Springs is not Urbanrise's only engagement with this corridor. Revolution One (formerly Codename Chennai's Best) is another Urbanrise project in Padur on OMR, offering studio, 1, 2 and 3 BHK apartments alongside Manhattan Condos. The project incorporates a 3.5-acre park with over 78% open spaces. Together, Jasmine Springs and Revolution One reflect a deliberate cluster strategy: Urbanrise has concentrated consecutive launches within the same three-kilometre stretch of OMR south of Sholinganallur, betting on the corridor's long-term employment and infrastructure trajectory.
The commercial rationale is grounded in hard employment data. SIPCOT has developed a 1,000-acre Information Technology Park at Siruseri, the largest IT park in South India, located approximately 35 km along OMR from Chennai city. Major tenants at SIPCOT include TCS, Accenture, Capgemini and L&T Infotech, among several mid-sized BPO and IT/ITeS firms. Proximity to this employment base is the primary demand driver for every Urbanrise launch in the locality — IT professionals working at SIPCOT and adjacent tech parks form the natural buyer pool for Jasmine Springs.
Flat prices in Kelambakkam, Chennai currently range between Rs 4,950 and Rs 6,650 per square foot. In terms of price appreciation, flat rates in Kelambakkam changed by 12.4% in the last one year. Price appreciation has been notably witnessed in micro-markets including Kelambakkam, as stated in the Knight Frank Residential Report H2 2024, attributed to booming infrastructure coupled with affordability relative to other residential markets in India.
Suburbs such as Kelambakkam are currently transitioning from purely affordable to early mid-segment pricing. For buyers evaluating an Urbanrise project here, that transition matters: an under-construction purchase at Jasmine Springs sits at the front end of a price curve that, on the available data, has already delivered double-digit annual gains. Urbanrise's position within the Alliance Group and the appeal of the OMR–Kelambakkam axis together make the pricing competitive for under-construction apartments in this location.
| Configuration | Price Range (Rs) | Source |
|---|---|---|
| 1 BHK flat | Rs 29.6 lakh – Rs 68.9 lakh | 99acres, 2026 |
| 2 BHK flat | Rs 40 lakh – Rs 68.9 lakh | 99acres, 2026 |
| Avg flat rate (per sq ft) | Rs 5,450 | 99acres, 2026 |
| 1-year flat appreciation | +12.4% | 99acres, 2026 |
Urbanrise's timing in Kelambakkam aligns with several structural infrastructure changes that are reshaping the lower OMR corridor.
Ongoing metro developments are already uplifting property prices in Kelambakkam, Siruseri and related localities. For a buyer entering Urbanrise Jasmine Springs during construction, the metro's eventual commissioning adds a compounding layer to the 12%-plus annual appreciation already recorded in the locality.
Urbanrise's site selection in Kelambakkam benefits from a social infrastructure layer that has been building for over two decades alongside OMR's IT growth. Educational institutions in the broader OMR belt include Sishya OMR School, American International School, Abacus Montessori School, Chettinad Medical College and SSN College of Engineering; healthcare is served by Chettinad Health City, Lifeline Hospital and Supreme Hospital; and retail and entertainment options include Marina Grand Mall, Mayajaal and MGM.
Schools near the Padur–Kelambakkam corridor include Ilanthalir Kids Zone Preschool and Gateway American International School, while hospitals in proximity include Supreme Speciality Hospitals and Chettinad Super Speciality Hospital. Additional schools serving Kelambakkam include Velammal New Gen School, St Mary's Matriculation Higher Secondary School and Milton International School.
Urbanrise–Alliance Group has lined up over 36 million sq ft of residential projects across Bengaluru, Chennai and Hyderabad, with 16 million sq ft earmarked for Chennai alone, backed by an investment of Rs 8,900 crore in FY 2023–24. Within Chennai, projects span Padur, Siruseri OMR, Thirumazhisai, Guduvanchery and Mahindra World City, with completed and ongoing projects numbering eleven in the city by recent public listings.
In one notable land transaction, Urbanrise acquired 96.5 acres in Chennai from Vees Properties with plans to develop a mega township project with a development potential of 13 million sq ft and a revenue potential of Rs 7,000 crore. The company is also developing a 2 million sq ft high-rise luxury apartment community at Mahindra World City near Chennai, with an investment of Rs 700 crore and an estimated revenue potential of Rs 1,200 crore, on 9.24 acres acquired from Mahindra LifeSpaces. These Chennai-wide commitments signal that Urbanrise is not a transient developer in the market — the pipeline is too large and the capital too institutional to permit mid-course withdrawal.
Urbanrise's signature approach is its 100-Year Commitment, anchored by a sustainability platform called Environmental Intelligence, integrating water-surplus community design, on-site clean power generation and LEED-aligned building specifications across every new launch. At Jasmine Springs, that framework is delivered through MIVAN construction — a technology associated with faster cycle times and better concrete uniformity than conventional formwork.
