Brigade Enterprises Limited, a part of Brigade Group, has acquired a 5.41-acre land parcel on Velachery Road in Chennai through an outright purchase. The land is strategically located next to Phoenix Market City and is positioned to benefit from the area’s proximity to both the IT Corridor of OMR and the Central Business District (CBD).
This acquisition aligns with Brigade Group’s plans for expansion in the Chennai real estate market. The project, with an estimated gross development value (GDV) of ₹1,600 Crore, is expected to have a development potential of approximately 0.8 million square feet. The total transaction value for the land is INR 441.70 Crores.
The development will aim to provide accessible living spaces with a focus on practical amenities. Brigade Group intends to incorporate design elements that combine aesthetics, functionality, and sustainability into the project. The project is also expected to offer a variety of premium amenities to enhance the living experience for future residents.
Pavitra Shankar, Managing Director, Brigade Enterprises Limited stated, “Chennai has grown into our second largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations. Our aim is to address the strong demand for thoughtfully designed high-quality residential spaces that resonate with the aspirations of modern consumers. Velachery’s prime location and connectivity make it an ideal choice for creating a vibrant community, aligning with our vision of delivering exceptional living experiences.”
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