Brigade Group to develop its first plotted development in East Bengaluru, eyes ₹175 crore
Bengaluru-based real estate developer Brigade Group has signed a joint development agreement for a new plotted development project in East Bengaluru with a Gross Development Value (GDV) of ₹175 crore, the company announced on April 21.
The project, which spans 20 acres and is located in Malur, has a total development potential of 0.45 million square feet, the company said.
This is Brigade's first plotted development in East Bengaluru, and the project will offer residential plots.
Also Read: Bengaluru real estate: Brigade Group to develop residential project in Whitefield for ₹2700 crore
'We continue to identify high-potential land parcels that align with our long-term vision of creating well-planned communities with a focus on quality, sustainability, and innovation,' Pavitra Shankar, managing director of Brigade Enterprises Limited, said.
She said that Malur is becoming a preferred residential location due to its location near major infrastructure projects like the Satellite Town Ring Road (STRR) and the Chennai Expressway. 'With improving infrastructure and better connectivity, more homebuyers are looking at affordable housing options outside the main city,' she said.
With this new project, Brigade Group is expanding its footprint in Bengaluru's eastern corridor and seeing increased interest from developers and buyers.
Also Read: Brigade Group launches premium residential project in north Bengaluru, eyes ₹380 crore revenue
In January, the Group signed an agreement to develop a residential land parcel on Whitefield-Hoskote Road with a development potential of ₹2700 crore.
Sprawling across 20 acres, the residential project will have a total saleable area of approximately 2.5 million sq ft and a total land cost of about ₹630 crore through its subsidiary Ananthay Properties Private Limited.
Further, in June 2024, the company launched Brigade Insignia, a premium residential project in Yelahanka, Bengaluru, with a revenue potential of ₹1100 crore. Brigade Insignia comprises six towers housing 379 units of 3, 4, and 5 BHK apartments, spread across a 6-acre land parcel.
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