Bengaluru-based real estate developer Brigade Group has announced plans to develop a large residential project on Whitefield-Hoskote Road. Covering 20 acres, the project will feature a saleable area of approximately 2.5 million sq. ft., with a land cost of ₹630 crore. This initiative aligns with Brigade Group’s strategy to expand its residential portfolio while addressing evolving customer needs.
Brigade Group, a prominent real estate developer based in Bengaluru, has recently acquired a 20-acre land parcel on Whitefield-Hoskote Road for approximately ₹630 crore. This strategic acquisition, executed through its subsidiary Ananthay Properties Pvt Ltd, is set to pave the way for a substantial residential project in one of the city’s rapidly developing corridors.
Project Overview
The upcoming residential development is poised to offer a saleable area of about 2.5 million square feet, with an estimated Gross Development Value (GDV) of ₹2,700 crore. This significant investment underscores Brigade Group’s commitment to expanding its footprint in Bengaluru’s real estate market and catering to the growing demand for quality housing.
Strategic Location
Situated on the Whitefield-Hoskote Road, the project benefits from its proximity to the bustling IT hub of Whitefield. This area has seen a surge in residential demand due to its thriving job market and well-established infrastructure. The location offers seamless connectivity through road networks and the upcoming Metro extension, enhancing its appeal to potential homebuyers seeking convenience and accessibility.
Company’s Vision
Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, emphasized the company’s strategic focus on acquiring prime land in key markets to bolster its land holdings. This acquisition aligns with Brigade Group’s broader vision of delivering high-quality, sustainable living spaces that resonate with the evolving needs of urban dwellers.
Market Implications
The real estate sector in Bengaluru continues to exhibit robust growth, driven by a steady influx of professionals and the expansion of IT and related industries. Brigade Group’s latest venture is poised to capitalize on this momentum, offering modern residential solutions that cater to the aspirations of the city’s burgeoning populace. The project’s scale and strategic location are expected to set new benchmarks in the region’s housing landscape.
Future Outlook
With this development, Brigade Group reinforces its position as a key player in Bengaluru’s real estate arena. The company’s proactive approach in identifying and investing in high-potential areas reflects its commitment to growth and innovation. As the project progresses, it is anticipated to attract significant interest from prospective buyers and investors, further solidifying Brigade’s reputation for excellence in the industry.
In summary, Brigade Group’s acquisition and planned development on Whitefield-Hoskote Road exemplify its strategic foresight and dedication to meeting the dynamic housing needs of Bengaluru. This initiative not only enhances the company’s portfolio but also contributes to the city’s urban development and economic.
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Construction, Infrastructure and Mining
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