“Brigade will continue to focus on the South Indian market and is aiming to increase the contribution of Chennai and Hyderabad markets in its overall portfolio.”
Brigade Group, a Bengaluru-based property developer has disclosed that over the next three to five years in Chennai it would invest about ₹2,000 crores to expand an additional one million square feet each in residential and commercial areas.
Hrishikesh Nair, COO, Chennai Operations, Brigade Enterprises Ltd. said, “Brigade will continue to focus on the South Indian market and is aiming to increase the contribution of Chennai and Hyderabad markets in its overall portfolio.”
“This investment will be in residential, commercial, hospitality, and retail verticals of the group,” he said in a statement.
According to Mr. Nair, in Chennai Brigade Group has established and developed 2 million sq. ft. of commercial space till now.
They are aiming to finalize one million square feet in residential and commercial spaces additionally at an investment of nearly ₹2,000 crores in the next 3-5 years in the city for which it had already recognized land zones.
The developer also announced the launch of another amazing project Zenith Tower of Brigade Residences located at the World Trade Centre, Chennai. This is Brigade’s second residential tower project after Astra, which was displayed in 2019.
30% of pre-launch booking for zenith has already been received by Brigade. Zenith will include 148 units along with 3 bhk homes and 4 bhk penthouses. Also, the new building will be of 26 floors.
He said, “The demand in the premium residential market in Chennai has witnessed a sharp increase, with a change in the demographics where younger couples are looking to invest in residences.”
Brigade Enterprises posted, in the second quarter a 73% gain in sales value at ₹831 crores consecutively, with net area sales of 1.3 million sq. feet.