Bengaluru-based Brigade Enterprises plans to construct a high-rise residential building complex at Perumbur in the heart of the city with an investment of ₹620 crore. It acquired the property from PVP Ventures, said sources.
The project will consist of five towers with a total of 1,368 dwelling units for a total built-up area of 3.38 lakh sq m. The total land area available for development is 59,531 sq m, said sources.
Brigade is also building a residential project in Velachery costing nearly ₹600 crore. It plans a high-rise group development at Raptakos, Brett & Company facility, which has been closed for many years. The site is sandwiched between the Phoenix Mall and Westside, said multiple sources.
Today, Perambur is one of the hottest places for new residential projects with all the major developers, including Baashyam, Casa Grand and SPR, having a presence.
Six projects
In Chennai, Brigade has 125 acres and 17 million sq ft of developable area. It has six projects in Chennai both delivered and under construction — Brigade Vantage (retail), WTC Chennai (office), Brigade Residences at WTC (residential), Holiday Inn (hospitality), Brigade Xanadu (residential) and Icon, which was recently launched, a mixed-use development, sources said.