Brigade Group has signed a Joint Development Agreement (JDA) to develop around 2.1 million sguare feet in Chennai. The land, located at Perumbakkam, just off OMR Sholinganallur junction, is spread over 15 acres and will be developed as a large residential township. Perumbakkam is one of the fast-emerging residential hubs in Chennai, witnessing increasing infrastructure development recently. The project will have a revenue realisation of over Rs 1500 crore in about 5 years.
Brigade Group is targeting a revenue of about Rs 6,000 crore over the next 5 years from its Chennai residential business, alone. Further, as part of its consolidation plans in Chennai, the Group is expanding its presence in the Residential, Commercial and Retail verticals.
Brigade Enterprises is engaged in developing residential, commercial and retail properties primarily in Bangalore and Mysore, and has also developed and is managing a number of serviced apartments under the brand, Brigade Homestead.
