In a bold move that reinforces its long-term vision for Chennai, Bengaluru-based real estate giant Brigade Group has acquired a prime 5.41-acre land parcel on Velachery Road for a whopping ₹441 crore. This new acquisition is aimed at developing a state-of-the-art residential project that is expected to unlock a Gross Development Value (GDV) of approximately ₹1,600 crore, with a development potential of about 0.8 million square feet.
This strategic acquisition was facilitated by Knight Frank India, one of the country’s leading real estate consultants.
What Makes This Deal Significant?
- Location, Location, Location
The land parcel is located along Velachery Road, one of Chennai’s most dynamic and well-connected zones. Velachery is known for its seamless access to:- OMR (Old Mahabalipuram Road) – the hub of IT and corporate parks.
- Chennai’s Central Business District (CBD) – the city’s economic and cultural nerve centre.
This makes the location a sweet spot for both working professionals and high-income end-users looking for urban comfort paired with strong infrastructure.
- Residential Demand on the Rise
With the increasing migration of professionals to Chennai due to its booming IT and industrial sectors, the demand for premium and mid-segment housing is at an all-time high. This project by Brigade is expected to tap into that robust demand.
Why is Chennai a Key Market for Brigade Group?
Brigade Enterprises Limited’s Managing Director, Pavitra Shankar, emphasized the group’s growing focus on Chennai, calling it their second-largest market after Bengaluru.
“This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations,” she stated.
The company has been consistently investing in premium residential and commercial projects in Chennai, positioning itself as a major player in the city’s transformation into a real estate hotspot.
Knight Frank India’s Perspective
According to Reshmi Panicker, Executive Director, Land and Residential Services, Knight Frank India:
“Chennai has firmly established itself as a strategic hub for real estate investments. This transaction showcases the increasing appetite for premium land parcels that offer long-term value. The city’s infrastructure growth and institutional backing make it ripe for sustained residential investment.”
Brigade’s Expanding Chennai Portfolio: A Quick Recap
Brigade Group isn’t new to Chennai’s evolving skyline. Here’s a look at some of their recent and upcoming developments in the city:
-
High-End Project in Sholinganallur (Launched in March 2024)
- Spread across: 6.5 acres
- Built-up Area: 1.4 million square feet
- Expected Revenue: ₹1,700 crore
- Key Features:
- Three iconic towers, 43 storeys each
- Skybridge connecting the towers
- Over 50,000 sq ft of lifestyle amenities
- Towers to rise to a height of 143 metres with panoramic city views
-
West Chennai Joint Development (Announced November 2023)
- Total Area: 1 million sq ft of residential space
- GDV: ₹800 crore
- Part of a larger mixed-use development spanning 1.5 million sq ft
- Focus: Integrated living with commercial and retail elements
-
Future Launch Pipeline in Chennai
- Brigade has confirmed plans to launch around 15 million sq ft across residential, commercial, retail, and hospitality segments in Chennai.
- The overall investment earmarked for this expansion stands at ₹8,000+ crore.
Why Developers Are Betting Big on Chennai
Several factors are contributing to Chennai’s meteoric rise in the real estate market:
- Robust Infrastructure: Metro expansions, new flyovers, improved arterial roads
- Growing IT and Industrial Base: Especially along OMR and GST Road
- Comparatively Affordable Real Estate Rates: When compared to Bengaluru or Mumbai
- Government Push for Urban Development: Smart city initiatives and better planning regulations
With these growth indicators, Chennai is no longer playing second fiddle to South India’s realty hubs — it’s becoming one of them.
Brigade Group: A Quick Snapshot
| Parameter | Details |
|---|---|
| Founded | 1986 |
| Headquarters | Bengaluru, India |
| Presence | Bengaluru, Chennai, Hyderabad, Kochi, etc. |
| Business Verticals | Residential, Commercial, Retail, Hospitality |
| Notable Projects | Brigade Gateway, Orion Mall, World Trade Center, Brigade Cornerstone Utopia |
Brigade Group’s consistency in delivering high-quality, customer-centric developments has earned it a reputable name across South India.
Conclusion
With this latest acquisition on Velachery Road, Brigade Group is clearly doubling down on its Chennai expansion strategy. From iconic high-rises in Sholinganallur to integrated townships in West Chennai, Brigade’s Chennai portfolio is growing at a record pace. This also reflects a broader trend of top-tier developers betting on Chennai’s long-term potential in the premium housing segment.
For investors, homebuyers, and real estate watchers alike — this is a market and a brand to keep an eye on.
