Bengaluru Actual Property Firm To Construct Mega Residential Hub In Chennai, Rs 6000 Crore In 5 Years

By CNBC-TV 18 IST (Up to date)


Brigade Enterprises has signed a three way partnership to develop round 2.1 million sq ft residential residences in Perumbakkam, one of many quick rising residential areas in Chennai.

Bengaluru-based realty agency Brigade Enterprises Ltd on June 27 mentioned it has signed a joint growth settlement to develop round 2.1 million sq ft residential residences in Chennai.

The corporate is concentrating on income of round Rs 6,000 crore over the following 5 years from its Chennai residential enterprise alone.

The land OMR is positioned at Perumbakkam, simply off Sholinganallur Junction, is unfold over 15 acres and can be developed into a big residential township. Perumbakkam is among the quick rising residential hubs in Chennai, which has been witnessing rising infrastructure growth just lately.

Pavitra Shankar, Government Director and Head of Residential Enterprise, Brigade Enterprises Ltd mentioned, “South India will proceed to be a serious focus for us, and this challenge is a part of our technique to increase our presence in Chennai.”

“The challenge will generate income of over Rs 1,500 crore in about 5 years. We anticipate a optimistic response from the shoppers, particularly from the IT and ITeS sectors, as this IT workplace is positioned on the coronary heart of the belt.”

As well as, as a part of its consolidation plans in Chennai, the group is increasing its presence in residential, business and retail sectors.

Shares of Brigade Enterprises closed at Rs 440.60, up Rs 4.05, or 0.93 per cent, on the BSE.

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