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Bengaluru-based Brigade Group has secured a nine-acre land parcel in Chennai's IT corridor on a 55-year lease from YMCA. This strategic acquisition in the OMR (Old Mahabalipuram Road) area provides the company with a significant development potential of 1.6 million sq ft. The company plans to build a Grade-A office complex and a 200-key JW Marriott hotel, strengthening its commercial and hospitality footprint in Chennai. This move capitalizes on the city's robust real estate market, which is experiencing growth fueled by infrastructure development and high demand for both commercial and residential properties in the IT sector. The project is a key part of Brigade's expanding presence in the region.
Brigade Group has acquired a nine-acre land parcel in Perungudi on a long-term, 55-year lease from the YMCA. This is one of the most significant land transactions in recent years on the Old Mahabalipuram Road (OMR), the city's primary IT corridor, where large land parcels are becoming increasingly scarce. Advertisement
The lease agreement provides the Bengaluru-based real estate giant with a development potential of 1.6 million sq ft. The company's plans for the site include a Grade-A office complex, designed to meet the growing demand for high-quality commercial spaces from IT, startup, and fintech firms, and a 200-key JW Marriott hotel, which will strengthen the company's hospitality presence in the region.
This transaction is part of a broader expansion strategy for Brigade Group in Chennai. The company recently announced plans for a new premium residential project, "Brigade Morgan Heights," in South Chennai, valued at INR 2,100 crore, further solidifying its commitment to the city's dynamic real estate market.
The move comes as Chennai's real estate sector experiences robust growth. According to recent market analysis, the city's real estate market has seen a surge in both residential and commercial segments in the first half of 2025. This growth is driven by significant infrastructure developments like the ongoing Metro Rail Phase 2 expansion, which is improving connectivity and driving up property values in key areas.
The OMR corridor, in particular, has emerged as a key investment hotspot, with rising demand for commercial properties and residential spaces for the city's growing IT professional workforce. The average price per sq. ft. in this corridor is between INR 6,200 and INR 8,000, and commercial rental yields are a healthy 6-8%.
By securing this prime location in the heart of the OMR, Brigade Group is strategically positioning itself to capitalize on these favorable market trends and cater to the combined demand for modern office spaces and premium hospitality services in one of India's most resilient and rapidly developing urban markets.
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