Brigade Group has Signed a Agreement for Joint Development in Chennai with PVP Ventures

Brigade Group has Signed a Agreement for Joint Development in Chennai with PVP Ventures

Brigade Group, a leading real estate developer, has unveiled significant expansion plans in Chennai, encompassing both residential and hospitality sectors.

• High-Rise Residential Project: Brigade signed a joint development agreement with PVP Ventures to construct a 2.5 million square foot high-rise residential project on 16 acres in Perambur, Chennai. This project boasts a projected revenue of Rs 2,000 crore.
• ECR Resort Development: The company secured a 45-year lease agreement to build a 250-room resort on the East Coast Road (ECR). Brigade is in talks with prominent hoteliers to manage the resort’s operations.
• Focus on Growth: Chennai joins Bengaluru and Hyderabad as Brigade’s key focus markets. This strategic expansion aligns with their overall growth plan.
• Strong Chennai Market: Brigade acknowledges Chennai’s burgeoning residential sector, fueled by the growing presence of IT/ITeS, BFSI, manufacturing, and automotive companies. With a land bank exceeding 12 million square feet for residential projects, Chennai is poised to become Brigade’s second-largest market after Bengaluru.
• Hospitality Expansion: This project marks Brigade’s entry into the Chennai resort sector. They aim to expand their total room count by 1,200 keys over the next four years. The focus is on creating luxurious experiences that cater to modern travellers.

Brigade Group’s expansion plans signify their confidence in Chennai’s real estate market and their commitment to contributing to its growth.

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