Brigade Group Acquires Land in Chennai’s Velachery for ₹441 Crore Housing Project
Brigade Group has acquired a 5.41-acre land parcel in Chennai's Velachery Road for ₹441 crore. The transaction was disclosed in a regulatory filing on May 14, 2025, and is part of the company’s ongoing efforts to strengthen its presence in South India’s key urban centres. The new land parcel will be developed into a residential project with an estimated gross development value (GDV) of approximately ₹1,600 crore. The project is expected to yield a development potential of around 0.8 million square feet.
This acquisition was facilitated by real estate consultancy firm Knight Frank India, which highlighted the location’s strategic advantages. Velachery Road provides connectivity to both the Old Mahabalipuram Road (OMR) IT corridor and Chennai’s Central Business District (CBD), making it a preferred location for both homebuyers and developers. Over the years, Velachery has developed into a prominent residential and commercial zone in Chennai, with strong infrastructure and proximity to employment hubs being key drivers of real estate activity.
Brigade Group has been expanding steadily in Chennai, and this latest deal marks another significant step in its growth strategy. Pavitra Shankar, Managing Director of Brigade Enterprises Limited, said that Chennai has now become the company’s second-largest market after Bengaluru. She noted that the company has consistently invested in strategic locations within the city and remains committed to building its presence through land acquisitions and joint development agreements. The focus, she said, remains on securing high-potential land parcels in prime locations that align with Brigade’s long-term growth plans.
Chennai has become a strong focus area for South India-based developers, many of whom are looking to tap into the city’s growing demand for residential space. With a stable job market, growing infrastructure, and improving connectivity, the city has seen increased interest from both individual buyers and institutional investors.
Reshmi Panicker, Executive Director, Land and Residential Services at Knight Frank India, pointed out that this deal reflects the increasing appetite for well-located land parcels in the city. She added that Chennai is attracting sustained attention from institutional capital and branded real estate players, driven by a combination of infrastructure readiness and steady residential demand.
This is not the first large-scale residential project Brigade has undertaken in the city. In March 2025, the company announced a high-end residential project in Sholinganallur, spread over 6.5 acres with three towers rising to 43 storeys. The project, covering 1.4 million square feet of built-up area, is expected to generate ₹1,700 crore in revenue.
In addition to apartments, the development includes 50,000 square feet of amenities and a sky bridge connecting the towers. Back in November 2024, Brigade had signed a joint development agreement for a project in West Chennai with a GDV of ₹800 crore, which forms part of a larger mixed-use development spanning 1.5 million square feet.
The group has stated that it plans to launch nearly 15 million square feet of residential, office, retail, and hospitality space in Chennai, with a total investment of over ₹8,000 crore. This multi-segment expansion shows the company’s intent to build a diversified and long-term presence in the city. With its latest land acquisition on Velachery Road, Brigade Group aligning itself with the city’s evolving urban and residential needs.
Image source- freepik.com
