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Brigade Group to invest Rs 8,000 cr for its verticals in Chennai

Thursday, 13 Jun 2024
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Real estate firm Brigade Group will invest more than Rs 8,000 crore in Chennai for residential, office, retail and hospitality projects, spread across 15 million sq. ft.

The launch of Brigade Icon Residences, which will be part of a high-end mixed-use development comprising residential, retail, and office spaces in Mount Road in Chennai. The gross development value (GDV) of the residential projects is estimated to be more than Rs 13,000 crore by 2030. It is one of the most important launches  in Chennai, and among the most premium project in its portfolio.

The Group has developed more than five million sq. ft. of residential, office, hospitality and retail projects in Chennai. World Trade Center Chennai, the company flagship project, in Perungudi is over 90 percent leased. It has a pipeline of more than 15 mn sq. ft. across all segments, with the residential comprising over 12 million sq. ft.

In FY25, Brigade plans to launch over three million sq. ft. of residential projects and about one million sq. ft.of commercial development in Chennai.  In Chennai the Group aims to double our growth in the city (Chennai) by expanding all four verticals of residential, commercial, retail and hospitality. It has signed memoranda of understanding (MoUs) with the state government for four projects and, approvals are in process.

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