Brigade Enterprises acquires 5.41-Acre Parcel in Chennai's Velachery for ₹441.70 crore
Brigade Enterprises
, a real estate development firm has acquired a 5.41-acre land parcel on
Velachery Road
, Chennai, through an outright purchase valued at ₹441.70 crore.
Located adjacent to Phoenix Marketcity, the acquisition is a key component of Brigade's strategic growth plan for the Chennai market. The upcoming project, with a gross development value (GDV) of approximately ₹1,600 crore, will offer a development potential of nearly 0.8 million square feet.
'Chennai has emerged as our second-largest market, driven by sustained and strategic investments in business development. This acquisition is a reaffirmation of our commitment to the city and our focus on acquiring marquee land parcels in prime locations. With Velachery's excellent connectivity and vibrant neighbourhood, we see immense potential in creating a premium residential community that aligns with the aspirations of modern urban dwellers,' said Pavitra Shankar, Managing Director, Brigade Enterprises Limited.
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'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,' said Gaurav Lal, Executive Director - Strategic Initiatives,
Knight Frank India
, the advisor to the deal.
Earlier this year,
Ananthay Properties
, a subsidiary of Brigade Group, has signed a definitive agreement to acquire 20 acres land parcel located on Whitefield-Hoskote Road, Bengaluru for a total of Rs 630 crore.
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Brigade Group has made significant strides in Chennai with a series of developments across multiple sectors. These include the Brigade World Trade Center and Tech Boulevard, a commercial development; Brigade Altius, a newly launched residential project spread over 6.5 acres in Sholinganallur; and Brigade Xanadu, a 33-acre integrated township recently completed in Mogappair. Additionally, Brigade Icon on Mount Road—a prominent mixed-use development acquired from TVS in early 2022—further underscores the Group's commitment to delivering high-quality spaces.
Established in 1986, Brigade Group has nearly four decades of experience. The company has delivered landmark projects across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City, with a diversified portfolio spanning residential, commercial, retail, hospitality, and education sectors.
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