Brigade Group hopes to make Rs 300 cr from a new project in Mysuru that will build luxury homes.
By Bricksnwall | 2023-12-05
Brigade Enterprises, Krishna Priya Estates, and Micro Labs partnered this month to create a housing complex in Bengaluru with an anticipated Rs 2,100 crore in sales.
Brigade Enterprises Ltd, a real estate company, has
partnered to build a luxury housing project in Mysuru that has the potential to
generate up to Rs 300 crore in income. Brigade Enterprises, a Bengaluru-based
company, announced in a statement on Tuesday that it has signed a Joint
Development Agreement (JDA) with landowners to create a four-acre luxury
residential project at Kurubarahalli, Mysuru.
Brigade Group has approximately 25 residential
projects in Mysuru; the JDA will add to this portfolio.
In Mysuru, Brigade has developed a solid reputation over the past thirty years. "We are reaffirming our commitment to this expanding city with this new launch," Brigade Enterprises Limited Managing Director Pavitra Shankar stated. Brigade Group has around 13 million square feet of pipeline space in Bengaluru, Hyderabad, and Chennai over the next year, of which 11 million square feet are from residential projects.
Brigade Enterprises last month partnered with Micro
Labs and Krishna Priya Estates to create a home project in Bengaluru that is
expected to fetch Rs 2,100 crore in sales. With a Gross Development Value (GDV)
of approximately Rs 2,100 crore, Brigade Group, Krishna Priya Estates, and
Micro Labs have inked a collaborative development agreement to create a
residential project spanning over 2 million square feet in Bengaluru.
Yelahanka, in North Bengaluru, is the location of the 14-acre property lot.
Brigade was established in 1986 and has a long
history of working on projects in several South Indian cities, such as
Bengaluru, Mysuru, Hyderabad, Chennai, and Kochi. Since its founding, the
business has built over 275 finished buildings totaling more than 80 million
square feet of developed space, spanning the residential, commercial, retail,
hospitality, and educational sectors.