NEW DELHI: Brigade Group has signed definitive deals for parcels of prime land in Chennai and Bengaluru, which have a total revenue potential of Rs 4 billion rupees over the next 4-5 years, the company said in a press release.
The deal to purchase the Mount Road property in Chennai from TVS Group has a potential 1 million square feet of mixed-use development including office, retail and residential.
The Bengaluru joint development property located near international schools off Sarjapur Road has a development potential of over 2 million square feet of residential apartments.
MR Jaishankar, CMD of the company, said: “The acquisition of these two properties in Chennai and Bengaluru is part of our growth strategy as we continue to focus on South India with an emphasis on Bengaluru, Chennai and Hyderabad.”
Brigade Group has a pipeline of upcoming projects of 10 million square feet with key projects in Bangalore, Hyderabad and Chennai.
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