Brigade Enterprises Ltd., a leading name in Indian property development, has announced a significant expansion of its Chennai portfolio with the acquisition of a 5.41-acre land parcel. The company, the flagship of the renowned Brigade Group, purchased the prime plot on Velachery Road for a total of approximately ₹441.7 crore.
This strategic acquisition positions the new project in a highly sought-after location, adjacent to the popular Phoenix Market City. The move is a clear signal of the Brigade Group’s commitment to strengthening its presence in the Chennai market, which has become its second-largest after Bengaluru. The company plans to develop a major residential project on the site, with a potential development area of about 0.8 million square feet. The estimated gross development value (GDV) for this project is a substantial ₹1,600 crore.
Pavitra Shankar, Managing Director of Brigade Enterprises, highlighted the importance of this deal, stating that Chennai has become a key market for the company due to consistent and strategic investments. She emphasized that the acquisition of such a marquee land parcel in an excellent location reinforces the company’s long-term commitment to the city. The new project aims to meet the growing demand for high-quality residential spaces, a segment where the Brigade Group has established a strong reputation.
Since its establishment in 1986, the Brigade Group has been a prominent player in the Indian real estate sector, known for its diverse portfolio of residential, commercial, and hospitality projects. This latest acquisition is in line with its strategy of identifying and developing prime properties in major urban centers, contributing to the evolving landscape of Indian cities. With this new project, the company is poised to make a significant impact on Chennai’s residential market, offering a new, premium housing option in a coveted area.
