Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase. Situated in the prime location of Velachery and adjacent to Phoenix Market City, this acquisition is part of Brigade Group’s planned expansion in the Chennai market. The project will have a gross development value (GDV) of around Rs 1,600 crore, with a development potential of about 0.8 million square feet. The transaction value of the acquisition is about Rs 441.70 crore.
Strategically positioned, the project will offer seamless connectivity to both the IT Corridor of OMR, and the Central Business District (CBD), making it an ideal choice for those seeking convenience and accessibility. Brigade Group's commitment to quality and innovation will be reflected in the signature residences that seamlessly blend aesthetics, functionality, and sustainability. Residents will also enjoy a host of premium amenities.
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.
| Company Name | CMP |
|---|---|
| Lodha Developers | 827.75 |
| Dilip Buildcon | 434.80 |
| DLF | 569.60 |
| Oberoi Realty | 1671.50 |
| Ahluwalia Contract(I | 782.75 |
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