Chennai, Velachery 5.41 Acre
Land Acquired for Rs 441.70 Crores - Knight Frank Advisory
Knight Frank Advisory Helps Brigade Group Expand Chennai Presence with
Strategic Land Acquisition
5.41- Acre Parcel Acquired for INR 441.70
Crores
Chennai, India – Brigade Enterprises Limited, the
flagship company of Brigade Group and a leading real estate developer
headquartered in Bengaluru, has further cemented its presence in Chennai with
the acquisition of a prime 5.41-acre land parcel in Velachery, Chennai – one of
the city's most sought-after micro-markets. The deal was facilitated by Knight
Frank India, the exclusive transaction advisor. The project will have a
gross development value (GDV) of approximately INR1,600 Crore, with a
development potential of 0.8 million square feet. The transaction value of the
acquisition is INR 441.70 Crores.
This land
acquisition marking another milestone in Brigade’s aggressive expansion
strategy for Chennai, which is now the group’s second-largest market
after Bengaluru. Strategically positioned, the project will offer seamless
connectivity to both the IT Corridor of OMR, and the Central Business District
(CBD), making it an ideal choice for those seeking convenience and
accessibility. Brigade Group's commitment to quality and innovation will be
reflected in the signature residences that seamlessly blend aesthetics,
functionality, and sustainability. Residents will also enjoy a host of premium
amenities.
Key
developments in the city by Brigade Group include:
- Brigade World Trade Centre
and Tech Boulevard
- Brigade Altius- recently launched in
Sholinganallur about 6.5 acres
- Brigade Xanadu - recently completed township
in Mogappair about 33 acres
- Brigade Icon on Mount Road,
a mixed-use development acquired from TVS in early 2022
These
projects reflect Brigade’s multi-sector strategy, spanning residential,
commercial, retail, and hospitality segments.
Pavitra
Shankar, Managing Director, Brigade Enterprises Ltd. said, "Chennai has grown
into our second largest market after consistent and strategic investment in business
development. This acquisition reinforces our commitment to expanding our
footprint in the city with a focus on marquee land parcels in excellent
locations. Our aim is to address the strong demand for thoughtfully designed
high-quality residential spaces that resonate with the aspirations of modern
consumers. Velachery's prime location and connectivity make it an ideal choice
for creating a vibrant community, aligning with our vision of delivering
exceptional living experiences.”
Dineshkumar R. Mishra, Sr. Vice President,
Corporate Finance, Audit and Legal, Raptakos Brent & Co., “We are pleased that The Brigade Enterprises Ltd. has acquired this
trophy land in the heart of Chennai as this will unlock great value. The
Brigade Group is well known for their landmark edifices across major cities in
India and we expect that this purchase will make a great addition to their
portfolio. Also, want to acknowledge the role that Knight Frank India Pvt. Ltd
have played as our partners in this venture.”
Reshmi
Panicker, Executive Director, Land and Residential Services, Knight Frank
India,
commented “Chennai has emerged as a strategic hotspot for leading South
India-focused developers. This transaction highlights the increasing appetite
for premium locations backed by strong infrastructure and long-term residential
demand. The city is firmly on the radar for serious institutional capital and
branded players, making a strong case for sustained residential
investment.”
Gaurav
Lal, Executive Director, Knight Frank India further added, “The trust a brand like Brigade commands, combined with marquee locations
such as this acquisition near a prominent mall and ongoing developments like
Brigade Icon on Mount Road, reflects the growing confidence in Chennai’s
residential potential. At Knight Frank India, we are delighted to have
facilitated a transaction that aligns so closely with the city’s upward
trajectory and the group’s vision.”
Knight Frank LLP is a leading independent,
global property consultancy. Headquartered in London, Knight Frank has more than 29,000 people
operating from over 704 offices across 50+ markets. The Group advises clients ranging from individual owners and buyers to
major developers, investors, and corporate tenants. For further information about the Company, please visit www.knightfrank.com
Knight Frank India is headquartered in Mumbai
and has more than 1,900 experts across Bangalore, Delhi, Pune, Hyderabad,
Chennai, Kolkata, and Ahmedabad. Backed by strong research and analytics, our experts offer a
comprehensive range of real estate services across advisory, valuation and
consulting, transactions (residential, commercial, retail, hospitality, land and capitals), facilities management and project management. For more information, visit www.knightfrank.co.in
