The Bangalore based real estate conglomerate Brigade group is planning to launch nearly 15mn sqft residential, office, retail and hospitality space in Chennai for which it will invest close to over Rs.8,000 crore, according to the media statement of the company. The Group is eyeing on Chennai because it is the second largest market after their base city Bangalore.
Managing Director, Brigade Enterprises Ltd, Pavitra Shankar explained, “Our aim is to double our growth in the city by expanding all four verticals of residential, commercial, retail and hospitality. We have already signed MoUs with the state government for four projects as part of their Global Investors Meet, approvals for which are in process.”
According to the statement of the company, they have a pipeline of over 15 mn sq ft across all the segments in Chennai, with the residential segment comprising over 12 mn sqft. In FY25 they are planning to launch over 3 mn sqft of residential projects and about 1 mn sq ft of commercial development in Chennai. The Gross Development Value (GDV) of the residential projects in the city alone are estimated to be over Rs.13,000 crore.
Brigade Group has also declared the launch of Brigade Icon Residences,which is a part of high-end mixed-use development located in the heart of Chennai’s Mount Road. The project is designed by the globally-renowned architect SOG Design which is based out of Singapore.
Each of the plush residential buildings will be ground plus 38 floors. The apartments are featured with 4BHK or BHK apartments measuring 2500sqft, whose GDV will be over Rs.1800 crore.
In Chennai, Brigade Group has already completed over 5 mn sq ft across residential, office, hospitality and retail real estate. Their flagship project of Chennai ‘World Trade Center’ is located in Perungudi.
Commenting on the new launches, Pavitra Shankar further said, “We are aware of the significance of Mount Road to the people of Chennai, and are very happy to bring Brigade Icon to the city’s most iconic location. Not only is this one of the most important launches for Brigade in Chennai; it is also the most premium project in our residential portfolio.”
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