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Bengaluru-based listed real estate developer Brigade Group has launched a premium residential project in Chennai and expects ₹1700 crore revenue from it, the company announced on March 6.
In a regulatory filing, the company informed about the launch of Brigade Altius, a premium residential project.
The project Brigade Altius is located in Sholinganallur, in the heart of Chennai’s IT corridor, offering seamless connectivity to major business districts.
Also Read: Bengaluru real estate: Brigade Group to develop residential project in Whitefield for ₹2700 crore
Spanning 6.5 acres, the project has a total development area of 1.4 million square feet and features three signature towers, each with 43 floors.
Brigade Group said that the project will reach a height of approximately 143 meters, offering residents panoramic views of the city and its surrounding landscapes.
It said the towers are connected by a sky bridge, and the project features 50,000 sq ft of amenities.
“Our focus is on the three big South Indian markets of Bengaluru, Chennai and Hyderabad. Chennai is set to become our second-largest market after Bengaluru, and we aim to double our growth in the city across residential, commercial, retail and hospitality,” Pavitra Shankar, Managing Director, Brigade Enterprises Ltd said.
Also Read: Brigade Group to invest close to ₹1500 crore in Kerala to expand real estate business
Previous launches
In January, Brigade Group signed an agreement to develop a residential land parcel on Whitefield-Hoskote Road with a development potential of ₹2700 crore. Sprawling across 20 acres, the residential project will have a total saleable area of approximately 2.5 million sq ft.
In February, the Group said it will invest ₹1,500 crore in Kerala as part of its expansion plan. The investment will help create employment opportunities for around 12,000 people over the next five years.
The company proposes to set up its second World Trade Center (WTC) in the state, the first being WTC Kochi. In addition, Brigade is looking to expand its footprint in Kerala with a residential project in Kochi and a luxury island resort at Vaikom. These projects are expected to be completed by 2030.
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