Brigade group signs Commercial Joint Venture Deal in Chennai

Brigade group signs Commercial Joint Venture Deal in Chennai

Brigade Group Announces ₹400 Crore Investment in Chennai Office Space. Brigade Group, a leading real estate developer, has signed a Commercial Joint Venture Deal in Chennai to develop a new Grade A office space in Chennai.

Project Highlights:

• Project Name: Brigade Tech Boulevard
• Location: Pallavaram-Thoraipakkam Radial Road, Chennai
• Investment: ₹400 crore
• Leasable Area: 8.36 lakh sq ft across two towers
• Developer: Brigade Enterprises Ltd (in a Joint Development Agreement with Agni Estates & Foundations Pvt Ltd)

Project Significance:

• This marks Brigade Group’s next commercial launch in Chennai after the successful completion of the World Trade Center on OMR.
• The project caters to Chennai’s diverse office market, targeting sectors beyond IT and ITeS.
• Brigade Tech Boulevard will prioritize sustainability and integrate seamlessly with digital connectivity.

Management Quotes:

• Nirupa Shankar, Joint Managing Director, Brigade Enterprises Ltd:
  • “Chennai is a diverse office market… Offices that conform to sustainability… are in great demand.”
  • “Given the pre-leasing commitments that Radial Road has had in the past, we are confident that the leasing momentum would increase further with this development.”

Additional Notes:

• Brigade Group has a proven track record, having completed over 280 buildings with 8.3 crore sq ft of developed space.
• The company recently reported a 41% rise in revenue and a 31% increase in net profit for Q3 FY24.

Overall, this investment strengthens Brigade Group’s presence in Chennai’s commercial real estate market. Brigade Tech Boulevard is expected to offer modern, sustainable office space catering to the city’s growing demand.

 

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in