Real estate developer Brigade Group, on Monday, January 08, signed two MoUs (Memorandum of Understanding) with the Tamil Nadu Government worth a combined estimated investment of INR 3400 Crore over the next 3-4 years. The company signed these MoUs during the Tamil Nadu Global Investors Summit (TNGIM) 2024.
The Brigade Group signed an MoU with the Chennai Metropolitan Development Authority (CMDA) worth approximately INR 2000 Crore to expand their real estate portfolio in Chennai. The company will develop high-rise residential buildings in the IT belt of Sholinganallur.
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The second MoU was signed between Brigade Group and the Electronics Corporation of Tamil Nadu (ELCOT) IT and Digital Services Department, Government of Tamil Nadu, worth an estimated investment of INR 1400 Crore. The company will develop high-rise residential and commercial units in different micro-markets in Chennai, including Mount Road.
Both projects are anticipated to be completed within 3-4 years.
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