East Bengaluru Levels Up: Brigade's ₹5,200 Cr Mega Mixed-Use Marvel in the Works

Brigade Enterprises Ltd has made a grand splurge in India's real estate space by acquiring a high-value 20.19-acre land tract in Bengaluru's fast-developing Whitefield-Hoskote corridor for ₹5.88 billion (₹588.33 crore). The development will be a marquee mixed-use project with a gross development value (GDV) of ₹52 billion (₹5,200 crore), one of the largest property transactions of the year in the city.

 

Strategically located with convenient access to the city's key IT and industrial corridors, the site acquired is well-placed to tap into the growing demand for residential, commercial and retail space in East Bengaluru. Brigade is planning the project with a whopping 4.2 million square feet of development, further cementing its position as a top urban developer.

 

Pavitra Shankar, Director, Brigade Enterprises, stated, "This acquisition is in tune with our vision to develop landmark places where living, working, and play converge. The Whitefield-Hoskote corridor is destined to grow fast, and we are keen to make meaningful contributions to it."

 

Key Highlights:

Acquisition land value: ₹5.88 billion (₹588 crore)

Location: 20.19-acre whitefield-hoskote corridor, Bengaluru

Development area: 4.2 million sq. ft. (residential, commercial, retail)

Approximate GDV: ₹52 billion (₹5,200 crore)

Strategic benefits: Enhances Brigade's presence in a high-growth micro-market with good infrastructure and connectivity

Subsidiary involved: Ananthay Properties (subsidiary of Brigade Group)

 

Brigade's bold approach follows East Bengaluru having experienced a spurt in real estate growth, leaving the company at the vanguard of the city's urbanization process.

 

Source: Business Standard, Rediff Money, Economic Times Realty