Brigade Enterprises has acquired a 5.41-acre land parcel on Velachery Road, Chennai, through an outright purchase for Rs 4.417 billion. Located next to Phoenix Market City, the site will be developed into a premium residential project with a gross development value of approximately Rs 16 billion and a development potential of 0.8 million square feet.

The project offers strategic access to both the OMR IT Corridor and Chennai’s Central Business District, promising strong connectivity and premium lifestyle offerings. Brigade plans to create signature residences focused on aesthetics, functionality, and sustainability, complemented by top-tier amenities.

“Chennai has grown into our second largest market after consistent and strategic investment in business development,” said Pavitra Shankar, Managing Director, Brigade Enterprises. “This acquisition reinforces our commitment to expanding our footprint in the city… Velachery’s prime location and connectivity make it an ideal choice.”

Brigade Group, established in 1986, has a presence in multiple cities and operates across residential, office, retail, hospitality, and education sectors.