Brigade Enterprises Limited has acquired a 5.41-acre prime land parcel on Velachery Road, Chennai, for a premium residential development. This project, with a gross development value (GDV) of โน1,600 crore, will feature a development potential of 0.8 million square feet.
Located near Phoenix Market City, the site offers seamless connectivity to the IT Corridor of OMR and the Central Business District (CBD), making it ideal for modern urban living. Brigade Group aims to create signature residences combining aesthetics, functionality, and sustainability, supported by premium amenities.
The acquisition, valued at INR441.70 crores, underscores Brigade’s strategic expansion in Chennai, which has become its second-largest market. Pavitra Shankar, Managing Director of Brigade Enterprises Limited, stated, โThis acquisition reaffirms our commitment to Chennai with marquee locations. Velacheryโs connectivity and prime positioning offer a unique opportunity to develop high-quality residences that meet the aspirations of todayโs homebuyers.โ
