Bengaluru-based listed real estate developer Brigade Group has signed a Joint Development Agreement (JDA) for a new luxury residential project in Mysuru and expects ₹300 crore revenue from it, the company said on March 28.
The proposed project will have a developable area of 4.5 lakh sq ft with a gross development value (GDV) of ₹300 crore. The project will include 25 per cent senior living spaces and 75 per cent luxury apartments, the company said.
Pavitra Shankar, Managing Director, Brigade Group, said, “This land deal is a significant milestone in our efforts to expand our footprint in Mysuru. As part of Brigade Group's long-term strategy, we aim to bring thoughtfully designed residential spaces to key markets like Mysuru, and nurture vibrant communities that symbolise quality, innovation, and holistic living."
Also Read: Bengaluru real estate: Brigade Group to develop residential project in Whitefield for ₹2700 crore
Bengaluru projects in the pipeline
In January, Brigade Group signed an agreement to develop a residential land parcel on Whitefield-Hoskote Road with a development potential of ₹2700 crore. Sprawling across 20 acres, the residential project will have a total saleable area of approximately 2.5 million sq ft and a total land cost of about ₹630 crore through its subsidiary Ananthay Properties Private Limited.
{{/usCountry}}In January, Brigade Group signed an agreement to develop a residential land parcel on Whitefield-Hoskote Road with a development potential of ₹2700 crore. Sprawling across 20 acres, the residential project will have a total saleable area of approximately 2.5 million sq ft and a total land cost of about ₹630 crore through its subsidiary Ananthay Properties Private Limited.
{{/usCountry}}In August 2024, the company announced plans to develop a ₹750-crore commercial space on Old Airport Road in Bengaluru. The commercial development included 1.4 million square feet of leasable area, which is expected to generate an annual lease income of ₹100 crore.
Further, in June 2024, the company launched Brigade Insignia, a premium residential project in Yelahanka, Bengaluru, with a revenue potential of ₹1100 crore. Brigade Insignia comprises six towers housing 379 units of 3, 4, and 5 BHK apartments spread across a 6-acre land parcel.