Brigade Ent Expands Chennai Presence with ₹13,000 Cr Residential Projects

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Synopsis:

Brigade Enterprises doubles down on Chennai with a ₹1,800 crore project on Mount Road, part of a larger ₹13,000 crore portfolio across South India. The project features 60% residential space, with the launch of 200 apartments from ₹20,000/sq ft.

Brigade Enterprises News Today

Brigade Enterprises, a Bengaluru-based real estate firm, is set to boost its presence in Chennai with a major mixed-use development project on Mount Road. This move underscores the company's strategic expansion into one of South India's key real estate markets.

Explore: Brigade Enter. Ltd Share Price

Project Details and Financial Projections

The company expects the Mount Road project to generate a Gross Development Value (GDV) of approximately ₹1,800 crore. Spread across ten lakh square feet, the development will comprise predominantly residential space, alongside office and retail components.

Brigade plans to launch 200 apartments ranging from 3 to 5 bedrooms, including penthouses, with prices starting at ₹20,000 per square foot.

Strategic Growth Initiatives

Pavitra Shankar, Managing Director of Brigade Enterprises, highlighted Chennai's growing significance in their portfolio, positioning it as their second-largest market after Bengaluru.

The company aims to invest ₹8,000 crore in developing 15 million square feet of space across residential, office, and hotel segments in various South Indian cities, including Chennai.

Market Expansion and Sector Focus

Brigade Group intends to significantly expand its footprint in Chennai's real estate sector, with additional investments earmarked for land acquisitions totalling ₹1,000-1,500 crore. The firm is pursuing both joint developments and outright purchases to support its growth strategy.

Future Projections and Investments

Looking ahead, Brigade plans to triple its project count in Chennai by 2030. The company has already initiated several projects under MoUs signed with the Tamil Nadu government, aimed at further strengthening its position in the local market.

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