Bengaluru-based real estate major Brigade Enterprises has acquired 5.41 acres of prime land in Velachery, Chennai, for Rs 441.7 crore for a housing project, reinforcing the city’s status as the developer’s second-largest market after Bengaluru.

The land parcel has a gross development value (GDV) of Rs 1,600 crore and offers a development potential of 0.8 million sq. ft. Managing Director, Brigade Enterprises, Pavitra Shankar, stated, “Chennai has grown into our second-largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations.” Strategically located, the project ensures seamless access to both the IT corridor along Old Mahabalipuram Road (OMR) and Chennai’s Central Business District (CBD), adding further value to the development.

The deal was facilitated by real estate consultant Knight Frank India. Brigade’s other notable Chennai developments include Brigade World Trade Centre and Tech Boulevard, Brigade Altius in Sholinganallur, the township Brigade Xanadu in Mogappair, and the mixed-use project Brigade Icon on Mount Road, demonstrating its growing investment in the region.