Brigade Group, a prominent real estate developer, has expanded its presence in Chennai through a Joint Development Agreement (JDA) to construct a residential project spanning approximately one million square feet. According to the company’s announcement on November 7, this development holds a Gross Development Value (GDV) of around Rs 800 crore.
Located in West Chennai, one of the city’s rapidly expanding regions, the residential project will be part of a larger, 1.5 million square foot mixed-use development. This move aligns with Brigade’s broader strategy to grow its Chennai portfolio across various segments.
“This joint development agreement for a one million square foot residential project, as part of a larger mixed-use complex, reinforces our commitment to Chennai’s growth and reflects our vision to deliver high-quality residential, commercial, retail, and hospitality spaces,” said Pavitra Shankar, Managing Director of Brigade Enterprises.
In the coming years, Brigade Enterprises plans to launch roughly 15 million square feet (msf) of projects annually in FY25 and FY26, covering residential, commercial, retail, and hospitality sectors. Recently, the company raised Rs 1,500 crore through a Qualified Institutional Placement (QIP) to fund land acquisitions and support expansion. Over the next two years, Brigade intends to allocate Rs 4,500 crore for purchasing land assets.
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By Proptechbuzz
By Ravi Kumar
