Table of Content
The Brigade Group, a premier real estate developer, recently made news by acquiring a 5.4-acre land parcel on Velachery Road, Chennai. This ₹441 crore investment represents an important next step for the company in its expansion strategy and reflects the significant emergence of real estate development opportunities in Chennai. This project is expected to add nice new developments to the housing stock in the city while solidifying the Brigade Group's footprint in South India.
Details of the Acquisition
The land parcel on the prominent Velachery Road is ideally positioned to utilize connectivity to Chennai's IT Corridor on OMR and CBD. The development will have a Gross Development Value (GDV) of approximately ₹1,600 crore, and development potential of 0.8 million sq.ft. The acquisition was brokered by real estate consultancy Knight Frank India, demonstrating Brigade Group has acquired a sizeable premium housing project in one of the premium locations.
Also Read: Bengaluru's ₹50 Lakh Homes Now ₹2 Crore, ₹1.5–3 Crore the New Norm
Strategic Importance of the Project
The location offers unique advantages, with simple access to important employment centers and user-friendly amenities. Knight Frank India rated the location as premium value, based on the greater infrastructure and demand for long-term residential investors. We believe Chennai is establishing itself as a hub for substantial institutional capital and branded investors. This acquisition is a genuine opportunity to fulfill the increasing demand for quality housing.
Brigade Group’s Vision for Chennai
Brigade Group has recognized Chennai as a strategic market, and its second largest growth area after Bengaluru. Over the last few years, the company has made sizable investments in Chennai with residential, commercial, retail and hospitality projects on a large scale. Brigade Group plans to build nearly 15 million square feet in Chennai, not to mention that it has invested over ₹8,000 in their future expansion.
The recent acquisition is in line with Brigade's overall long-term strategy of focusing on marquee land parcels in excellent sites/locations. Brigade Enterprises Managing Director Pavitra Shankar shared the company's mission of continually strengthening its presence in Chennai by engaging in projects which appeal to the modern urban citizen.
Ongoing and Future Projects
The Velachery Road project joins a series of marquee projects with Brigade Group in Chennai. Recently, Brigade announced a high-end residential project in Sholinganallur, a 6.5-acre site with a revenue potential of ₹1,700 crore. It includes three landmark towers connected by sky bridges with premium amenities, adding to the evolving housing landscape of Chennai. Brigade also has a joint development agreement in West Chennai focusing on a mixed-use project of 1.5 million square feet. In essence, these projects showcase Brigade's diversified portfolio and ability to cater to different segments of the marketplace.
Expert Insights on Chennai’s Real Estate Market
Chennai has become a strategic hotspot for real estate development, attracting interest from top developers and investors. Industry experts also point out that Chennai's advantageous infrastructure, geographical location, and sustained demand for residential development makes it an attractive location for high-quality projects. The appetite for properties on Velachery Road clearly delineates the city’s potential for long-term growth.
Also Read: Netizens Claim Homeownership Now Exclusive to the Top 5% Amid Price Surge
Conclusion
The buy of the land on Velachery Road reiterates Brigade Group’s strategic intent to grow its presence in Chennai. At a development potential of ₹1,600 crore with an exceptional connectivity offering, the development will create a new benchmark for housing in Chennai. By engaging in high quality projects, Brigade Group is enhancing its position within the real estate sector in South India.
More specifically, the sector is evolving in real time, and the project is evidence of the relevance of investing strategically in the important location of the urban landscape. Brigade Group will not only add to the emerging demand for quality housing but the project will contribute to making Chennai a premier real estate location.
Follow AquireAcers Whatsapp Channel to Stay Updated With The Latest Real Estate News
Ans 1. Brigade Group’s purchase of a 5.4-acre land parcel on Velachery Road for ₹441 crore highlights its commitment to expanding its footprint in Chennai and tapping into the city's growing demand for premium housing.
Ans 2. The project will have a Gross Development Value (GDV) of approximately ₹1,600 crore, encompassing 0.8 million sq. ft. of premium residential space.
Ans 3. Velachery Road offers excellent connectivity to Chennai's IT Corridor on OMR, Central Business District (CBD), and other key employment hubs, making it a sought-after area for real estate development.
Ans 4. Brigade Group plans to build 15 million sq. ft. in Chennai, with investments exceeding ₹8,000 crore. Their projects include residential, commercial, retail, and hospitality developments.
Ans 5. Brigade Group focuses on acquiring marquee land parcels in prime locations, aiming to cater to the needs of modern urban citizens and strengthen its presence in key markets like Chennai.
Ans 6. Chennai's robust infrastructure, strategic geographical location, and consistent demand for residential and commercial developments make it a hotspot for top developers and investors.
Ans 7. Knight Frank India brokered the deal for the Velachery Road project, underlining the premium value of the land and its potential as a long-term investment.
Ans 8. The company aims to cater to the evolving needs of Chennai’s urban population by creating high-quality, innovative, and sustainable projects.