Knight Frank helps Brigade acquire 5.41-acres for Rs442 cr

Hyderabad: Brigade Enterprises Limited, the flagship company of Brigade Group and a leading real estate developer headquartered in Bengaluru, has further cemented its presence in Chennai with the acquisition of a prime 5.41-acre land parcel in Velachery, Chennai – oneof the city's most sought-after micro-markets. The dealwas facilitated by Knight Frank India, the exclusive transaction advisor. The project will have a gross development value (GDV) of approximately Rs1,600 crore, with a development potential of 0.8 million square feet. The transaction value of the acquisition is Rs441.70 crore.

This land acquisition marks another milestone in Brigade’s aggressive expansion strategy for Chennai, which is now the group’s second-largest market after Bengaluru. Strategically positioned, the project will offer seamless connectivity to both the IT Corridor of OMR, and the Central Business District (CBD), making it an ideal choice for those seeking convenience and accessibility. Brigade Group's commitment to quality and innovation will be reflected in the signature residences that seamlessly blend aesthetics, functionality, and sustainability. Residents will also enjoy a host of premium amenities.

Key developments in the city by Brigade Group include Brigade World Trade Centre and Tech Boulevard, Brigade Altius- recently launched in Sholinganallur about 6.5 acres, Brigade Xanadu - recently completed township in Mogappair about 33 acres, and Brigade Icon on Mount Road, a mixed-use development acquired from TVS in early 2022 These projects reflect Brigade’s multi-sector strategy, spanning residential, commercial, retail, and hospitality segments. "Chennai has grown into our second largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations.