Brigade Group has signed a joint development agreement to develop around 2.1 million sq ft in Chennai. The land, located at Perumbakkam, just off OMR Sholinganallur junction, is spread over 15 acres and will be developed as a large residential township.
“South India will continue to be a key focus for us, and this project is part of our strategy to expand our presence in Chennai. The project will have a revenue realisation of over Rs 1,500 crore in about 5 years,” said Pavitra Shankar, executive director and head of Residential Business, Brigade Enterprises.
Brigade Group is targeting a revenue of about Rs 6,000 crore over the next five years from its Chennai residential business alone. Further, as part of its consolidation plans in Chennai, the Group is expanding their residential, commercial and retail verticals.