Real estate developer Brigade Group has entered into definitive agreements to develop prime land parcels in Chennai and Bengaluru, with a total revenue potential of Rs. 4,000 crore in the next four to five years. The agreement signed by the developer to buy the Mount Road property in Chennai from the TVS Group company has a potential of one million sq ft of mixed-use development, including office, retail and residential spaces. The joint development property near Sarjapur Road in Bengaluru in the vicinity of international schools, has a development potential of over two million sq ft of residential flats.
MR Jaishankar, CMD, Brigade Group, said, “We are constantly on the lookout to identify strategically located land parcels that we can acquire and develop. The acquisition of both these properties in Chennai and Bengaluru are part of our growth strategy as we continue to focus on South India with emphasis on Bengaluru, Chennai and Hyderabad.” The developer has a pipeline of upcoming projects having an area of ten Mn sq ft across Bengaluru, Hyderabad, and Chennai.
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