Brigade Group and GIC acquire landmark property at Perungudi in Chennai

30 Mar 2016

Brigade Group and GIC, Singapore’s sovereign wealth fund, have jointly acquired approximately 16 acre property in Perungudi, the prime commercial corridor of Chennai, from Kansai Nerolac Paints for a sale consideration of Rs 537.86 crore.

The acquisition was done through Perungudi Real Estates, a special purpose vehicle formed by Brigade Enterprises with GIC. Easily accessible with close proximity to amenities such as hospitals, schools and shopping centers, the land will be developed into a mixed-use project comprising offices and residential units.

Brigade Group is one of South India's leading property developers. They have a uniquely diverse multi-domain portfolio that covers property development, property management services, hospitality and education.

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