Brigade Enterprises has informed that the Company has acquired a prime land parcel of 5.41 acres in Velachery Road, Chennai through an outright purchase for the development of premium residential project with a total development potential of 0.8 million square feet and a Gross Development Value of approximately ?1,600 crores. The transaction value of the acquisition is ?441.70 Crores. 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, accessibility and residents will also enjoy a host of premium amenities. This disclosure is pursuant to Regulation 30 Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. They are enclosing the copy of the press release titled ‘Brigade Group Acquires Prime Land Parcel on Velachery Road for Premium Residential Development.’ This is also hosted on the Company’s website at www.brigadegroup.com.
The above information is a part of company’s filings submitted to BSE.
