Brigade Group Forms JV for Rs 720 Cr Bengaluru Housing Project

Bengaluru, May 23 (PTI) Realty firm Brigade Group on Thursday said it has formed a partnership to develop a housing project in Bengaluru with an estimated revenue of Rs 720 crore.

In a statement, the company said it has signed a Joint Development Agreement (JDA) to develop a residential project spread across 6.9 acres with a total development potential of around 0.8 million square feet and a Gross Development Value (GDV) of Rs 720 crore.

The company did not share the name of the landowner with whom it entered into the JDA.

The land is located in the prime neighbourhood of Old Madras Road.

"We continue to see sustained demand for housing, driven by the need for homes with more space and practical amenities in strategic locations," Brigade Group's Managing Director Pavitra Shankar said.

"This new residential development reflects our ongoing efforts to meet this demand by delivering quality homes that cater to customers' needs," she said.

Brigade Group has a pipeline of new launches of around 12.61 million square feet in residential across Bengaluru, Chennai and Hyderabad.

Established in 1986, Brigade Enterprises Ltd is one of India's leading property developers.

Brigade has developed many projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru.

It is into developments of housing, office, retail and hotel properties.