Brigade Enterprises Ltd., Joint Managing Director Nirupa Shankar, Managing Director Pavitra Shankar and Executive Director Pradyumna Krishnakumar announced the launch of Brigade Icon Residences in Chennai.
Leading real estate developer Brigade group is planning to invest over ₹8,000 crore in Chennai by 2030 with a view to make it the second largest market for it after Bengaluru, said a top executive.
“Our aim is to double our growth in the city by expanding all four verticals of residential, commercial, retail and hospitality,” Brigade Enterprises Ltd (BEL) MD Pavitra Shankar told journalists.
As part of the plan, the Bengaluru-based realtor announced the launch of ₹1,000 crore Brigade Icon Residences project, a beach resort on ECR and a luxury hotel.
Talking about the Brigade Icon Residences, Ms. Shankar said it is an exquisite high-end and mixed use development project on a five acres prime property of TVS group on the Anna Salai.
“It will be a combination of two towers – retail and offices on the Anna Salai side. G+38 floors residential block on Whites Road with 200 homes. It is being designed by Singapore based architect SOG Design. On completion, it would be the tallest building on the Anna Salai,” she said.
JMD Nirupa Shankar said that Brigade Group has a pipeline of over 15 mn sqft across all the segments, of which residential segment will be over 12 mn sqft. In FY25, Brigade plans to launch over three mn sqft of residential projects and about one mn sqft of commercial development in Chennai.
“Besides, we are also planning to set up a 200 room high-end beach resort on the ECR beyond Uthandi Toll Plaza at an investment of ₹300 crore and one more luxury hotel,” Ms. Nirupa said.
According to her, in Chennai, Brigade Group has already completed over five mn sqft across residential, office, hospitality and retail real estate. Brigade’s flagship project, World Trade Center Chennai in Perungudi, OMR is over 90% leased and houses marquee tenants.
Asserting that they would purchase a property only if they were to develop, Ms. Pavitra said they have a land bank of 519 acres, of which 342 in Bengaluru and 130 in Chennai.
