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Realty firm Brigade Group acquires 5.4 acres in Chennai for ₹441.7 crore
Bengaluru-based real estate developer Brigade Enterprises has acquired 5.41 acres in Velachery, Chennai, for ₹441.7 crore, making the Tamil Nadu capital the company's second-largest base. The land has a gross development value (GDV) of ₹1,600 crore and a project development potential of 0.8 million square feet.
Pavitra Shankar, managing director, Brigade Enterprises Limited, said: 'Chennai has grown into our second-largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations.'
'Our aim is to address the strong demand for thoughtfully designed, high-quality residential spaces that resonate with the aspirations of modern consumers. Velachery's prime location and connectivity make it an ideal choice for creating a vibrant community, aligning with our vision of delivering exceptional living experiences,' she added.
Strategically positioned, the project will offer seamless connectivity to both the IT corridor of OMR and the Central Business District (CBD).
Reshmi Panicker, executive director, land and residential services, Knight Frank India, commented: 'Chennai has emerged as a strategic hotspot for leading South India-focused developers. This transaction highlights the increasing appetite for premium locations backed by strong infrastructure and long-term residential demand. The city is firmly on the radar for serious institutional capital and branded players, making a strong case for sustained residential investment.'
Other key developments by Brigade in the city include Brigade World Trade Centre and Tech Boulevard, the 6.5-acre Brigade Altius in Sholinganallur, the 33-acre township Brigade Xanadu in Mogappair, and the mixed-use project Brigade Icon on Mount Road.
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