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Bengaluru-based Brigade Group has finalized a definitive agreement to acquire a 20-acre land parcel on Whitefield-Hoskote Road for a new residential project with an estimated gross development value (GDV) of ?2,700 crore. The land has been secured through Brigade’s subsidiary, Ananthay Properties Private Ltd., at a cost of approximately ?630 crore.
The project, which will offer a saleable area of about 2.5 million square feet, is part of the companys strategic expansion in the residential sector. Pavitra Shankar, Managing Director of Brigade Enterprises Ltd., emphasized the companys focus on acquiring prime land in key markets to bolster its long-term residential growth strategy. "This project will support our vision of developing high-quality, sustainable properties that cater to the evolving needs of future residents," she said.
The company also has a strong pipeline of upcoming residential developments, with approximately 12.61 million square feet of new projects underway across Bengaluru, Chennai, and Hyderabad.
Founded in 1986, Brigade Enterprises Ltd. has a significant presence in several cities, including Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, and others, with developments spanning residential, office, retail, and hotel sectors. |
