Brigade Enterprises has signed MoUs with the Government of Tamil Nadu to invest over Rs 3400 crore in the state with a potential employment for around 25,000 people over the next three-four years. The company signed two MoUs, one with the Chennai Metropolitan Development Authority (CMDA) and the other with ELCOT, Information Technology and Digital Services Department, government of Tamil Nadu as part of Tamil Nadu’s Global Investors Meet (GIM) 2024, in the presence of MK Stalin, Chief Minister.
The MoU with Chennai Metropolitan Development Authority is for Brigade’s expansion in Chennai and setting up two high-rise residential buildings in the IT belt of Sholinganallur, with an investment of over Rs 2000 crores. The second MoU is with ELCOT, IT&DS which entails an investment of around Rs 1400 crores for high rise commercial and residential developments, across different micro-markets including Mount Road. These projects are expected to be completed within the next three-four years.
Pradyumna Krishnakumar, executive director, Brigade Enterprises, said, “Chennai continues to be a prime focus area for us across residential, commercial and hospitality. These sectors have shown phenomenal promise in terms of growth and potential during the last year. Also, Chennai is an emerging IT/ITES and Healthcare hotspot and the demand for absorption of commercial spaces is high. This in turn will drive demand for residences. We are confident that with the support of the Tamil Nadu government, we will be able to contribute to the growth of the state; as the real estate sector is a key contributor to the state exchequer.”
The MoU with ELCOT was signed between Pradyumna Krishnakumar and Dr S Aneesh Sekhar, IAS MD, ELCOT and the MoU with Chennai Metropolitan Development Authority was signed between Hrishikesh Nair, COO, Brigade Enterprises and Anshul Mishra, IAS Member Secretary Chennai Metropolitan Development Authority, Housing and Urban Development Department.
