Brigade Group has signed definitive agreements for prime land parcels in Chennai and Bengaluru, which have a total revenue potential of Rs 4000 crore in the next 4-5 years. The agreement to purchase the Mount Road property in Chennai from the TVS Group company has a potential 1 million sft of mixed-use development comprising office, retail and residential.
The Bengaluru joint development property located close to the international schools, near Sarjapur Road has a development potential of over 2 million sft. of residential apartments.
MR Jaishankar, CMD, Brigade Group, said, “We are constantly on the lookout to identify strategically located land parcels that we can acquire and develop. The acquisition of both these properties in Chennai and Bengaluru are part of our growth strategy as we continue to focus on South India with emphasis on Bengaluru, Chennai and Hyderabad.”
Brigade Group has a strong pipeline of upcoming projects of 10 mn sq-ft with key projects in Bengaluru, Hyderabad, and Chennai.
