Brigade Group to develop ₹2,100 cr housing project in North Bengaluru

The housing project, spanning 14 acres, is expected to yield a revenue realisation of ₹2,100 crore on completion.

Real estate giant Brigade Group is all set to develop a ₹2,100 crore housing project in North Bengaluru's Yelahanka area in what seems to be a partnership with two land owners.

The firm said it will build a residential project over 14 acres of land, which comes to about two million sqft. (HT PHOTO)

The firm said its unit Brigade Enterprises has inked a joint agreement with Krishna Priya Estates and Micro Labs to build a residential project over 14 acres of land, which comes to about two million square feet (sqft).

"We will create a wonderful residential development worthy of the marquee location. We anticipate the project to yield a revenue realisation of ₹2,100 crore on completion," Pavitra Shankar, the Managing Director of Brigade Enterprises Ltd said, as quoted by news agency PTI.

Karnataka to spend ₹4,119 crore for new greenfield port

In a similar instance, the Karnataka government awarded a contract to port operator JSW Infrastructure to build a new greenfield port for ₹4,119 crore.

The firm said it received a Letter of Award (LOA) from the government to develop the Keni Port in Karnataka on a public private partnership basis. The port will be developed to handle cape-size vessels, sustain all weathers and deep water, news agency PTI reported.

"To begin with, the capacity of the proposed port shall be 30 MTPA (million tonnes per annum) in the initial phase with further potential to increase substantially in the long run," a statement from the firm read.

It added that the port will be a greenfield, multi-cargo, direct berthing, deep-water commercial port for handling all types of cargoes on the west coast in the North Karnataka region, and that it will serve industries in Bellary, Hosapete, Hubballi, Kalaburagi, and South Maharashtra.

(With inputs from PTI)