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Bengaluru's publicly-traded real estate developer, Brigade Group, is making waves with a string of strategic land acquisitions, exemplifying their dedication to expansion in promising real estate markets with a recent purchase of a substantial 9.71-acre land parcel in Hyderabad for a noteworthy Rs 660.28 crore. The company has confirmed that they have completed the sale deed and officially registered the prime land parcel in their name.
This 9.71-acre land parcel is located in Neopolis, Kokapet, Hyderabad. Brigade Enterprises secured this prime piece of real estate through a successful e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA). What makes this acquisition significant is the price, with each acre costing the company Rs. 68 crores. This not only reflects the attractiveness of the location but also the company's strong position in the market.
In September 2023, Brigade Enterprises subsidiary Brigade Tetrarch finalized the acquisition of 5.35 acres in Venkatala Village, Yelahanka Hobli, Bengaluru, from Bangalore Ceramics. The transaction, amounting to Rs. 123.50 crores, sets the stage for an ambitious residential project. Brigade Enterprises envisions a sprawling development spanning almost one million square feet on this land. The revenue potential is substantial, estimated at around Rs. 800 crores, highlighting the company's confidence in its development capabilities.
Chennai, too, is on Brigade Enterprises' radar. In August 2023, the company acquired a 6.54-acre land parcel on Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai, from Pfizer Healthcare India. The purchase, valued at Rs. 138.83 crore, opens the door for another significant residential project. Covering over one million square feet, this development aligns with the company's commitment to providing quality housing solutions in key markets.
The real estate industry continues to be a key driver of economic growth in India, and Brigade Enterprises is positioning itself to play a pivotal role in shaping the nation's urban landscapes. With a strong presence in multiple cities and a diversified portfolio, Brigade Enterprises is well-poised to capitalize on emerging opportunities in the real estate sector. These acquisitions represent more than just land; they symbolize the company's vision for creating vibrant, sustainable, and modern communities.
As Brigade Enterprises continues to unfold its growth story, these developments signal a promising future in the Indian real estate landscape. The company's commitment to quality, innovation, and sustainable practices bodes well for the communities that will call these new developments home. With a focus on excellence and a customer-centric approach, Brigade Enterprises is set to leave a lasting imprint on India's real estate sector.
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