The Indian real estate sector has witnessed a significant development with a major land acquisition by Brigade Group, one of the country’s leading real estate developers. The company’s subsidiary, Ananthay Properties, has acquired a 20-acre land parcel in Bengaluru for approximately Rs 630 crore. This strategic move is expected to boost the company’s residential projects in the region.
Massive Land Acquisition in Bengaluru
The land parcel, located on the Whitefield-Hoskote Road, spans over 20 acres and is a significant addition to Brigade Group’s existing land bank. The total saleable area of the residential project is expected to be approximately 2.5 million sq ft, with a gross development value (GDV) of about Rs 2,700 crore.
Pavitra Shankar’s Vision for Brigade Group
Pavitra Shankar, the Managing Director of Brigade Group, expressed his company’s commitment to acquiring prime land in key markets. “We remain focused on acquiring prime land in key markets to strengthen our land holdings,” he said. This vision reflects the company’s efforts to expand its presence in the Indian real estate market.
Future Plans for Residential Projects
Brigade Group plans to develop approximately 12.61 million sq ft of new residential developments across Bengaluru, Chennai, and Hyderabad. This significant investment in land acquisition and development is expected to propel the company’s growth in the Indian real estate sector.
Indian Real Estate Market Overview
The Indian real estate sector has been witnessing a steady growth, driven by urbanization and increasing demand for housing and commercial spaces. Major players like Brigade Group are capitalizing on this trend by acquiring prime land and developing large-scale projects. This move is expected to shape the future of the Indian real estate market.
