Bangalore Based Brigade Group to Invest INR 3400 Cr Plus in Tamil Nadu

Brigade Group's Investment in Tamil Nadu

Brigade Enterprises Ltd, on January 8th, embarked on a significant venture, forging two memorandum of understanding (MoUs) with the Tamil Nadu government. This ambitious move signifies an investment by Brigade Group exceeding Rs 3,400 crore in the state, with a strategic timeline extending over the next three to four years.

These agreements were formalized during Tamil Nadu’s Global Investors Meet (GIM) 2024, under the watchful eye of MK Stalin, Tamil Nadu's Chief Minister.

Chennai's Urban Landscape to Witness Transformation

The first agreement with the Chennai Metropolitan Development Authority (CMDA) marks Brigade Group's expansion in Chennai. This involves the construction of two towering residential structures in Sholinganallur's IT corridor, commanding an investment surpassing Rs 2000 crores.

Diverse Developments in Partnership with ELCOT

In a similar vein, the second agreement with the Electronics Corporation of Tamil Nadu (ELCOT), and the Information Technology and Digital Services Department of the Tamil Nadu Government, entails a substantial investment of about Rs 1400 crores. This will foster high-rise commercial and residential developments across various micro-markets in Chennai, including the iconic Mount Road.

These groundbreaking projects are slated for completion within a three to four-year timeframe.

Chennai: A Hub of Opportunities

Pradyumna Krishnakumar, Executive Director of Brigade Enterprises Ltd, highlighted Chennai's growing importance in various sectors such as residential, commercial, and hospitality. He emphasized the city's burgeoning status as an IT/ITES and Healthcare hub, noting the escalating demand for commercial spaces.

Key Signatories Seal the Deal

The MoU with ELCOT was formalized through a signing ceremony between Krishnakumar and Dr. S. Aneesh Sekhar, IAS MD, ELCOT. Furthermore, an agreement with the Chennai Metropolitan Development Authority was sealed by Hrishikesh Nair, Chief Operating Officer, Brigade Enterprises Ltd, and Anshul Mishra, IAS Member Secretary Chennai Metropolitan Development Authority, Housing and Urban Development Department, Government of Tamil Nadu.

More about Brigade Group

With headquarters in Bengaluru, Karnataka, India, Brigade Enterprises Limited specialises in property development and real estate. A representative office for the Brigade Group is located in Dubai, in addition to its operational centres in Chikmagalur, Ahmedabad, Mangalore, Mysore, Chennai, Kochi,and Hyderabad.