Brigade Enterprises has signed two Memorandum of Understanding (MoUs) with the Government of Tamil Nadu to invest over Rs 3400 crore in the state with a potential employment for around 25,000 people over the next three-four years. The company signed two MoUs, one with the Chennai Metropolitan Development Authority (CMDA) and the other with ELCOT, Information Technology and Digital Services Department, Government of Tamil Nadu as part of Tamil Nadu’s Global Investors Meet (GIM) 2024.
The MoU with Chennai Metropolitan Development Authority is for Brigade’s expansion in Chennai and setting up two high-rise residential buildings in the IT belt of Sholinganallur, with an investment of over Rs 2000 crore. The second MoU is with ELCOT, IT&DS which entails an investment of around Rs 1400 crore for high rise commercial and residential developments, across different micro-markets including Mount Road. These projects are expected to be completed within the next three-four years. The Government of Tamil Nadu will provide the necessary support and regulatory facilitation subject to applicable laws.
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.
