Brigade group Signs Joint Venture Deal in Chennai and Bengaluru

Brigade Group Announces Land Acquisitions in Chennai and Bengaluru. Brigade Group, a leading real estate developer, has secured valuable land parcels in Chennai and Bengaluru with a projected total revenue of Rs 4,000 crore over the next 4-5 years. Brigade Group Signs Joint Venture Deal in Chennai and Bengaluru

Key Acquisitions:

• Chennai: Brigade Group signed a contract with the TVS Group for a mixed-use development on Mount Road, Chennai. This 1 million sq ft project will encompass office, retail, and residential spaces.
• Bengaluru: The company acquired land near Sarjapur Road for a joint development project. This strategically located area holds the potential for over 2 million sq ft of residential apartments.

Strategic Significance:

M.R. Jaishankar, CMD of Brigade Group, highlighted that these acquisitions align with their growth strategy focused on South India, particularly Bengaluru, Chennai, and Hyderabad.

Strong Pipeline:

This announcement comes after Brigade Group signed a Joint Development Agreement (JDA) last month for a 2.1 million sq ft project in Chennai. Additionally, they boast a substantial pipeline of upcoming developments in Bengaluru, Hyderabad, and Chennai, totalling around 10 million sq ft.

Overall Impact:

These land acquisitions solidify Brigade Group’s position as a major player in South India’s real estate market. The projects hold significant revenue potential and contribute to their diverse portfolio across various cities and property types.