Brigade Enterprises, a realty firm based in Bangalore, has acquired land worth INR 1,300 crore over the past year across the Southern market to enhance its presence in the residential segment.
In a recent purchase, the company invested INR 660 crore to purchase a 9.7-acre plot of land in Neopolis, Kokapet, Hyderabad, amounting to approximately INR 68 crore per acre. The company’s focus for this expansive land, which covers an area of One Million-SqFt, will primarily be on developing residential properties.
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Brigade Enterprises recently completed the acquisition of approximately 6.5 acres of land in Chennai from Pfizer Healthcare, paying INR 139 crore for the transaction. In a previous deal, the company had obtained land from a TVS Group company situated at Chennai’s Mount Road, involving a transaction of over INR 500 crore in valuation.
Amar Mysore, the executive director of Brigade Enterprises, stated that the collective development potential of all three land acquisitions would be around 5.5 Million-SqFt, holding a gross development value estimated at INR 6,500 crore. Depending on the necessary approvals, the company might even launch one of the projects this year.
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