Brigade Group has signed a Joint Development Agreement to develop around 2.1 million square feet space in Chennai where the land, located at Perumbakkam, just off OMR Sholinganallur junction is spreading across 15 acres and will be developed as a large residential township. Brigade Group is targeting revenue of about ₹6,000 crore over the next 5 years from its Chennai residential business alone. South India will continue to be a key focus area for the company.
The builder expects a very positive response from customers, especially from the IT and ITeS sectors as it is in the heart of the IT Office belt. Executive Director and Head of Residential Business, Pavitra Shankar, informed that Perumbakkam is one of the fast-emerging residential hubs in Chennai, witnessing increasing infrastructure development. Further, as part of its consolidation plans in Chennai, the Group is expanding its residential, commercial and retail verticals.