Brigade Group acquires 20-acre land in Bengaluru for Rs 630 cr

New Delhi, Jan 3 (PTI) Realty firm Brigade Enterprises has acquired 20-acre land in Bengaluru for about Rs 630 crore to develop a housing project.
    In a regulatory filing, the company has signed a definitive agreement for a prime land parcel located on Whitefield-Hoskote Road, Bengaluru.
    "Spanning about 20 acres, the residential project will have a total saleable area of approximately 2.5 million (25 lakh) sq ft, a Gross Development Value (GDV) of about Rs 2700 crore, and a total land cost of about Rs 630 crore, through its subsidiary Ananthay Properties Pvt Ltd," the company said.
    Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said the company remains focused on acquiring prime land in key markets to strengthen its land holdings.
    "This project plays a significant role in supporting our long-term residential expansion strategy. We are committed to developing a property that upholds the highest standards of quality and sustainability while meeting the evolving needs and preferences of our future residents," she said.
    Brigade Group also has a healthy pipeline of upcoming residential projects, with about 12.61 million (126.1 lakh) square feet of new developments across Bengaluru, Chennai, and Hyderabad.
    Established in 1986, Brigade Enterprises Ltd is one of India's leading real estate developers. The company has developed many projects across Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru with developments across residential, office, retail and hotels.

(This story has not been edited by THE WEEK and is auto-generated from PTI)