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Brigade Enterprises has entered into Joint Development Agreements (JDAs) with landowners to launch two luxury residential projects-Brigade Citadel 2 and Citadel - in Moti Nagar, Hyderabad. Spanning 10 acres with a development potential of 1 million sq ft, the projects will comprise 405 luxury apartments and are expected to generate over INR 970 crore in revenue. Executive Director Amar Mysore called the move a strategic expansion in one of their key South Indian markets. Brigade Group, headquartered in Bengaluru, continues to grow its footprint across southern cities, focusing on high-quality, sustainable development in residential, office, retail, and hospitality sectors.
Brigade Enterprises has partnered with landowners to develop two new housing projects in Hyderabad. The company expects to generate revenue exceeding INR 970 crore from these developments. Advertisement
In a regulatory filing, Brigade Enterprises announced it has signed Joint Development Agreements (JDAs) for the upcoming residential projects in Moti Nagar, Hyderabad. These projects are named Brigade Citadel 2 and Citadel 3. A Joint Development Agreement (JDA) is a common contract in real estate where a landowner contributes land, and a developer undertakes construction, with both parties sharing in the developed property or its revenue.
The two projects together span 10 acres and will have a development potential of about 10 lakh (1 million) square feet. They will include 405 luxury apartments. Hyderabad's real estate market has seen significant growth in recent years, particularly in the luxury segment, driven by a thriving IT sector and strong infrastructure development.
Amar Mysore, Executive Director of Brigade Enterprises Limited, stated that this expansion marked a strategic step in their scalable and sustainable growth in Hyderabad, which he described as one of their key focus markets in South India. He added that the company would continue to look for land parcels that matched their growth vision, design philosophy, and quality standards.
Established in 1986, Bengaluru-based Brigade Group is a leading property developer in India. The company builds residential, office, and retail projects, and also has interests in the hospitality and education sectors. Brigade Group has developed landmark buildings across various cities in South India, including Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Trivandrum, and GIFT City.
Source- PTI
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