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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Samsung assembled more mobile phones in India than Apple last year
Korean firm makes more phones across most segments and has higher volumes: S&P report Surajeet Das Gupta New Delhi Listen to This Article Samsung's global volume share of final assembling of smartphones in India might not get the same focus as that of Apple Inc because of the latter's aggressive export strategy and higher average selling price leading to higher value. But in terms of volume, the reality is that Samsung is much higher than its US rival. A research by S&P Global shows that Samsung's share of global final assembly volume of smartphones in India in 2024 was at 25 per cent compared to only 15 per cent of the Cupertino-based Apple Inc in the same period. For Samsung, its biggest exposure
Time of India
2 hours ago
- Time of India
UP to fast track setting up of 15 industrial zones for MSMEs across 11 districts
Lucknow: As part of its goal to make UP a one trillion-dollar economy, the Uttar Pradesh govt has decided to establish 15 MSME-focused industrial zones across 11 districts. Sharing details, officials said: "The draft blueprint prepared by the MSME department outlines that a total of 764.31 acres will be developed for these industrial estates. Across these estates, 872 industrial plots will be available for investors to set up their enterprises. This will not only strengthen the MSME sector in the state but also play a vital role in achieving the one trillion-dollar economy target." The department's roadmap includes a state-wide campaign to create a substantial land bank. As part of this, the process of making land available for the 15 MSME estates in the 11 districts is underway. They further said that the Yamuna Expressway Industrial Development Authority (YEIDA) is also working on a major plan to boost the MSME sector and has reserved 500 acres of land for setting up MSME units in its upcoming development zones. Additionally, the Greater Noida-based Flatted Factory Complex, to be developed by YEIDA in Sector 28 of Gautam Buddha Nagar at a cost of Rs 125 crore, will offer state-of-the-art, multi-storey factory spaces. The construction process is expected to begin soon, with the master plan and other technical reports currently in progress. The complex, to spread over 38,665 square meters, will be completed within 24 months, providing modern, well-equipped units for MSME enterprises. This multi-pronged strategy by the Yogi govt is designed to make Uttar Pradesh a manufacturing powerhouse, especially by empowering its MSME backbone with world-class infrastructure and investor-friendly policies.
Time of India
2 hours ago
- Time of India
Policy to help promote sale of ‘Made in UP' wines in retail stores soon
Lucknow: The state excise department is planning to make it mandatory for retailers to start stocking indigenous wines produced from fruits grown in UP on their shelves. Acting on the representation forwarded by the vintners (winery owners and operators), the department will soon present the proposal before the state cabinet to amend the existing policy and rules to create a minimum quota to promote its retail trade. Tired of too many ads? go ad free now The four winery operators in Lucknow, Muzaffarnagar, Saharanpur, and Noida would benefit from the move, as would hundreds of local farmers within the catchment area. Though provisions were made in the excise policy to start manufacturing wine from locally produced fruits in March 2022, the commercial operations of the wineries are yet to begin in the state. "The idea behind introducing local wine was to help farmers generate increased income. But until our products find space in the retail ecosystem, achieving financial viability will not be possible," said Muzaffarnagar-based Sanjay Gupta, who desperately wants to enter the retail market with five different local wines produced from mango, litchi, jamun, grapes, and mixed fruits for a year. Since the UP govt decided not to impose excise duty on 'Made in UP' wines, retailers showed no interest in stocking the products in the stores. "Every retailer has to provide a fixed income to the excise department through the liquor trade. Called MGQ (minimum guarantee quota), it is mandatory for retailers to purchase a minimum quantity of liquor bottles in a month to assure a certain fixed revenue to the state," said a Lucknow-based retailer. Over the sale of country liquor, English wine, and beer bottles, a hefty portion of the price is paid as excise duty to the state coffers, helping retailers achieve the MGQ. Tired of too many ads? go ad free now As the sale of local wine would not generate any excise duty for the state, retailers will not be able to achieve MGQ in return. "That is why no retailer shows interest in stocking local wines and instead focuses on the products which have higher demand," the retailer added. A senior excise officer said provisions need to be made in the existing policy to create a sub-quota within the MGQ to promote local wine. Lucknow: The state excise department is planning to make it mandatory for retailers to start stocking indigenous wines produced from fruits grown in UP on their shelves. Acting on the representation forwarded by the vintners (winery owners and operators), the department will soon present the proposal before the state cabinet to amend the existing policy and rules to create a minimum quota to promote its retail trade. The four winery operators in Lucknow, Muzaffarnagar, Saharanpur, and Noida would benefit from the move, as would hundreds of local farmers within the catchment area. Though provisions were made in the excise policy to start manufacturing wine from locally produced fruits in March 2022, the commercial operations of the wineries are yet to begin in the state. "The idea behind introducing local wine was to help farmers generate increased income. But until our products find space in the retail ecosystem, achieving financial viability will not be possible," said Muzaffarnagar-based Sanjay Gupta, who desperately wants to enter the retail market with five different local wines produced from mango, litchi, jamun, grapes, and mixed fruits for a year. Since the UP govt decided not to impose excise duty on 'Made in UP' wines, retailers showed no interest in stocking the products in the stores. "Every retailer has to provide a fixed income to the excise department through the liquor trade. Called MGQ (minimum guarantee quota), it is mandatory for retailers to purchase a minimum quantity of liquor bottles in a month to assure a certain fixed revenue to the state," said a Lucknow-based retailer. Over the sale of country liquor, English wine, and beer bottles, a hefty portion of the price is paid as excise duty to the state coffers, helping retailers achieve the MGQ. As the sale of local wine would not generate any excise duty for the state, retailers will not be able to achieve MGQ in return. "That is why no retailer shows interest in stocking local wines and instead focuses on the products which have higher demand," the retailer added. A senior excise officer said provisions need to be made in the existing policy to create a sub-quota within the MGQ to promote local wine.
