The Bengaluru-based business said in a regulatory filing on Monday that it has agreed to a Joint Development Agreement (JDA) for a 6.6-acre piece of property in West Chennai.
Brigade Enterprises Ltd., a real estate company, has partnered to build a housing project in Chennai that would span 6.6 acres and generate an estimated Rs 1,000 crore in income.
The Bengaluru-based business said in a regulatory filing on Monday that it has agreed to a Joint Development Agreement (JDA) for a 6.6-acre piece of property in West Chennai.
It further said, “The project’s anticipated Gross Development Value (GDV) is Rs 1,000 crore.”
“This joint venture is a crucial step in strengthening our footprint and diversifying our portfolio in Chennai, which is our second-largest market,” Brigade Enterprises Ltd. Managing Director Pavitra Shankar said.
According to her, Chennai’s real estate industry is expanding rapidly due to the city’s excellent infrastructure and ongoing demand from investors and end users.
One of the top developers of real estate in the nation is Brigade Enterprises Ltd.