Brigade Expands Chennai Presence with ₹441.7 Cr Land Buy in Velachery, Plans 0.8 Million Sq. Ft. Premium Project

Brigade Enterprises is reportedly strengthening its presence in Chennai’s real estate market with a major land acquisition in the city. The company is said to have purchased a prime 5.41-acre land parcel on Velachery Road for ₹441.7 crore, indicating its intent to cater to the city’s growing demand for premium residential offerings.

Prime Urban Parcel with High Development Value

The recently acquired plot is located in Velachery, a key residential and commercial neighbourhood of Chennai. According to sources, the land was bought through an outright purchase and is expected to yield a Gross Development Value (GDV) of ₹1,600 crore. Brigade is reportedly planning to develop around 0.8 million sq. ft. on the site, aligning with its expansion strategy into key metropolitan hubs.

Velachery's Strategic Edge

Industry insiders point out that Velachery’s connectivity to the Central Business District (CBD) and the IT corridor along OMR adds significant appeal for homebuyers. Its proximity to prominent landmarks like Phoenix Market City enhances its attractiveness for potential investors and end-users alike.

Chennai: Brigade’s Second Stronghold After Bengaluru

Pavitra Shankar, Managing Director at Brigade Enterprises, is believed to have reiterated the company’s long-term focus on Chennai, calling it their second-largest market after Bengaluru. She reportedly mentioned that the acquisition of such a marquee location reinforces Brigade’s vision of creating iconic developments in well-connected urban pockets.

Brigade already has a notable presence in Chennai, with projects such as Brigade Xanadu in Mogappair, Brigade Icon on Mount Road, Brigade Altius in Sholinganallur, Brigade Tech Boulevard, and Brigade World Trade Center.

Expert Take: Market Sees Strategic Intent

Reshmi Panicker, Executive Director at Knight Frank India, is said to have remarked that the acquisition reflects a growing appetite for premium plots in high-potential cities like Chennai. She highlighted the importance of infrastructure-backed locations in shaping long-term real estate investments.

Looking Ahead

With this land acquisition, Brigade appears set to roll out a premium residential development tailored for Chennai’s aspirational urban populace. The project is expected to combine luxury living with strategic connectivity and proximity to lifestyle hubs.

Disclaimer: This news article is a rewritten version based on public domain or press release content. All figures and quotes are attributed as per reported information and are subject to verification from original sources.