80 billion invested by Brigade Group in Chennai by 2030

14 Jun 2024 CW Team

Brigade Group is to invest more than Rs 80 billion by 2030 to increase the size of its property in Chennai. The company now has a pipeline of more than 15 million square feet, of which more than 12 million are residential. The residential developments are anticipated to have a gross development value (GDV) exceeding Rs 130 billion. Pavitra Shankar, managing director of Brigade Enterprises, stated that the company's aim was to double its growth in the city by expanding all four verticals of residential, commercial, retail, and hospitality. He mentioned that they had already signed Memorandums of Understanding (MoUs) with the state government for four projects as part of their Global Investors Meet, with approvals for these projects currently in process. Shankar also noted that in FY25, the company planned to launch over three million square feet of residential projects and about one million square feet of commercial development in Chennai. He further mentioned that the company had recently launched Brigade Icon Residences, featuring three, four, and five-bedroom apartments from 2,500 square feet onwards with G+38 floors. The gross development value (GDV) of this project was stated to be over Rs 18 billion.

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