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Brigade Enterprises Ltd has entered into a Joint Development Agreement to build a 6.6-acre residential project in West Chennai, with an estimated Gross Development Value (GDV) of INR 1,000 crore. The Bengaluru-based company aims to strengthen its presence in Chennai, its second-largest market, through this venture. The city's real estate sector has shown consistent growth, supported by infrastructure development and demand from homebuyers and investors. The project reflects Brigade's strategy to expand its portfolio while tapping into high-growth housing markets.
Brigade Enterprises Ltd has partnered to develop a 6.6-acre residential project in West Chennai, estimating the project's Gross Development Value at INR 1,000 crore. The Bengaluru-based real estate developer confirmed the signing of a Joint Development Agreement for the land parcel, marking a key step in expanding its footprint in the city. Advertisement
Pavitra Shankar, Managing Director of Brigade Enterprises, noted that Chennai is the company's second-largest market. She highlighted that the city's real estate sector is on a steady growth path, driven by ongoing infrastructure development and sustained interest from both investors and end-users. She added that the joint venture aligns with the company's objective of deepening its presence and strengthening its portfolio in high-demand residential markets.
Brigade Enterprises has a strong track record as one of India's leading real estate developers, delivering a mix of residential and commercial projects across several cities. This West Chennai development is expected to meet growing housing demand, reflecting broader trends in the city where residential projects are increasingly being sought after by both homeowners and investors.
The project also demonstrates Brigade's approach to strategic growth, focusing on cities with high demand and potential for value appreciation. With infrastructure improvements and residential demand rising in Chennai, the development is likely to contribute to the city's evolving real estate landscape while reinforcing the company's position as a prominent developer in southern India.
Source PTI
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