Brigade group plans to build an 8-acre residential project in India’s maiden Silicon Valley, Bengaluru. According to the regulatory filing, the Bengaluru-based company estimates a revenue potential of Rs. 1,100 Crore from the project.
The company announced “A joint development residential project in West Bangalore’s Tumkur road.” It further said the project encompasses a total development area of nearly 1.2 million square feet with an estimated gross development value (GDV) of approximately Rs.1,100 crore.
Brigade group’s project will have only two and three-bedroom apartments.
Pradyumna Krishnakumar, Executive Director, brigade Enterprises Limited said, “This project will be a significant landmark in this micro market of Tumkur road and is in addition to our planned pipeline of over 12 million square feet of residential developments planned across Bengaluru, Chennai, and Hyderabad in the coming year.”
In the last year, many reputed developers announced the launch of big-ticket land and residential projects launch in India’s IT capital.
Brigade Group in the last month, announced the launch of Brigade Insignia, a luxury residential project in Yelahanka, North Bengaluru. It is a premium housing project with a revenue potential of Rs. 1,100 crore.
Pavitra Shankar, Managing Director, Brigade Enterprises Limited said, “Demand for residential projects is currently high and the segment is witnessing steady growth.” Established in 1986, Brigade Group by far completed 300 buildings accumulating to 90 million sq ft development area in real estate’s diverse portfolios. In the past 30 years, the company has owned six World trade Centers in Bengaluru, Chennai, Kochi, Hyderabad, Trivandrum, and Devenahalli.
