Brigade group seals a whopping 20-acre land deal in Bengaluru for Rs. 2700 Crore. Its subsidiary company, Ananthay Properties, plans to develop a housing project on Whitefield-Hoskote road, Bengaluru. The signed deal for the giant land parcel stands at Rs. 630 crore.
The housing project will likely have an estimated saleable area of 2.5 million sq ft and a gross development value (GDV) of nearly Rs. 2,700 Crore.
Pavitra Shankar, Managing Director, Brigade Group said, “We remain focused on acquiring prime land in key markets to strengthen our land holdings.”
Brigade group, the Bengaluru-based developer aims to develop 12.61 million sq ft residential projects across Bengaluru, Chennai, and Hyderabad.
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Earlier last year, the Brigade Group, launched a new residential project with an estimated revenue potential of Rs. 400 Crore. ‘Cobalt’ is a residential tower in a 50-acre gated community of Brigade El Dorado.
The luxury residential project is well-positioned in KIADB Aerospace Park, Bengaluru. In the regulatory filling, the company said, they expect revenue of over Rs. 400 Crore from the 6.1 million square feet project. There are 948 single-bedroom apartments in the luxurious housing project.
Talking about the new launch, the company informed that the new luxury township is 15 minutes from Kempegowda International Airport. Also, several landmark workplaces and educational establishments are nearby. Additionally, many new commercial and IT parks are also coming in the nearby vicinity of the project.
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