Brigade Group Expands Chennai Presence with ₹441.7 Crore Land Deal

Brigade Enterprises Ltd has acquired a 5.41-acre land parcel on Velachery Road, Chennai, for ₹441.7 crore through an outright purchase. The land is located adjacent to Phoenix Market City and lies close to the IT corridor on Old Mahabalipuram Road (OMR) and the central business district (CBD).

Development Potential

The company plans to develop around 0.8 million square feet of residential space on the site. The gross development value (GDV) for the project is estimated at ₹1,600 crore. The project is expected to include residential units along with premium amenities.

This acquisition adds to Brigade’s growing presence in Chennai, which the company has identified as its second-largest market after Bengaluru. Brigade already has several projects in the city, including residential and commercial developments such as the World Trade Center in Chennai.

Read more: Brigade Group Signs JDA For Plotted Development Project in East Bengaluru

Share Price Performance

As of 10:00 AM on May 15, 2025,  Brigade Enterprises share price was trading at ₹1,069.50, a 2.08% decrease, with a 6.09% decline over the past six months and a 1.38% drop over the past year.

Background

Brigade Enterprises, headquartered in Bengaluru, was established in 1986. The company is involved in residential, commercial, retail, and hospitality projects. Apart from Bengaluru and Chennai, it has a presence in cities like Hyderabad, Mysuru, Kochi, Trivandrum, and GIFT City near Ahmedabad.

Conclusion

The ₹441.7 crore land purchase on Velachery Road adds to Brigade’s pipeline of residential developments. With a planned 0.8 million sq ft project, the company continues its expansion into major urban markets with large-scale housing demand.

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