Brigade Acquires Chennai Property for ₹441 Cr for Premium Residential Project.

Bengaluru-based real estate developer Brigade Enterprise has significantly expanded its footprint in Chennai with the outright acquisition of a 5.41-acre property from Raptakos, Brett & Company Ltd. Located on Velachery Road, the acquisition was finalised for ₹442 crore.

Brigade plans to develop a premium residential project on the site, with a total estimated development potential of 0.8 million square feet. According to a company release, the Gross Development Value (GDV) from this planned development is projected to be approximately ₹1,600 crore.

The acquired property, which previously housed a Raptakos, Brett & Company facility that had been closed for many years, is considered a strategic location. It is situated next to the popular Phoenix Mall in the Velachery area.

Reports regarding Brigade's interest in acquiring this property had emerged earlier, with the news first broken by BusinessLine in September 2024.