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.