Brigade Group to develop 8-acre housing project worth ₹1,100 crore in Bengaluru

Bengaluru-based Brigade Group is set to develop an 8-acre residential project worth ₹1,100 crore in the city, the company announced on July 3

Published on: Jul 3, 2024, 19:34:48 IST

By HT News Desk

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Real estate major Brigade Group is set to develop an 8-acre residential project in Bengaluru with a revenue potential of ₹1100 crore, the company said in a regulatory filing on July 3.

Brigade Group to develop a 8-acre housing project worth ₹1,100 crore in Bengaluru (Representational photo) (Unsplash)

The company announced, "a joint development residential project in West Bangalore's Tumkur Road".

The project will encompass a total development area of about 1.2 million square feet with an estimated gross development value (GDV) of around ₹1,100 crore, the company said in its filing. The residential project will primarily comprise two- and three-bedroom apartments, it added.

Also Read: Brigade Group launches project in North Bengaluru with a revenue potential of Rs1100 crore

“This project will be a significant landmark in this micro market of Tumkur Road and is in addition to our planned pipeline of over 12 million square feet of residential developments planned across Bengaluru, Chennai and Hyderabad in the coming year,” said Pradyumna Krishnakumar, Executive Director, Brigade Enterprises Limited.

Developers make a beeline for land parcels and housing projects in Bengaluru

Since June 2024, several real estate players have announced big-ticket land deals and residential project launches in the IT capital.

Also Read: Why are real estate developers making a beeline for Mumbai and Bengaluru markets?

Late last month, Brigade Group announced the launch of Brigade Insignia, a premium residential project in North Bengaluru's Yelahanka area with a revenue potential of ₹1,100 crore.

“Demand for residential projects is currently high, and the segment is witnessing steady growth,” said Pavitra Shankar, Managing Director, Brigade Enterprises Limited.

Other names include Godrej Properties, Concorde and Puravankara Ltd.

Instituted in 1986, Brigade Group has completed more than 280 buildings amounting to over 83 million sq ft of developed space across a diverse real estate portfolio.

Brigade Group is also a license owner of six World Trade Centers across South India, in Bengaluru, Chennai, Kochi, Hyderabad, Trivandrum and Devanahalli. Over the last 38 years, the company has completed around 300 buildings, spanning 90 million square feet across a diverse portfolio.

Also Read: Puravankara acquires 7-acre land parcel in Bengaluru to develop housing project worth ₹900 crore

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