To focus and invest more in Chennai market
Chennai : Brigade Group has launched the Zenith Tower of Brigade Residences at World Trade Centre, Chennai. This is the second tower, after Astra, which was launched in 2019. Brigade has already received 30% pre-launch booking for Zenith, which features 149 units of three-bedroom homes and four-bedroom penthouses spread over 26 floors. Overlooking the Perungudi lake on the Western flank and an unhindered view of the sea on the Eastern side, Zenith boasts of spectacular design and sweeping architectural grandeur. Brigade Residences at World Trade Centre, Chennai is replete with a tastefully appointed clubhouse and a covered swimming pool, tucked away under the clubhouse. For lovers of sport, there is a tennis court, and cricket practice pitch.
Brigade will continue to focus on the South Indian market, and is aiming to increase the contribution of Chennai and Hyderabad markets in its overall portfolio. This investment will be in residential, commercial, hospitality and retail verticals of the group. With the existing 2 million sqft of commercial space, Brigade plans to complete 3 million square feet in residential space, with an additional investment of approximately Rs. 2000 Crores in the next 3-5 years in Chennai. It is anticipated that on the back of the strong vaccination drive that the country is witnessing and the booming IT and ITES sector, real estate markets are expected to be back to its earlier rapid growth track.
“The demand in the premium residential market in Chennai has witnessed a sharp increase, with a change in the demographics where younger couples are looking to invest in residences. The aspirational value of homes and community living has definitely increased. We have already identified land parcels in the city and will be planning to develop an additional one million square feet each in residential and commercial spaces over the next 3-5 years in Chennai. Last month, we celebrated our 35th anniversary. We would like to thank all our customers, investors and well-wishers for the trust they have placed in Brigade over the years. We stand committed to our mission, vision and values which has brought us to where we are today” said Hrishikesh Nair, COO – Chennai Operations, Brigade Enterprises Limited.
Brigade has the distinction of being the only real estate developer to be consistently recognised as one of the best places to work by the Great Place to Work Institute and Economic Times, in one of the largest workplace studies conducted in India. With the latest recognition by GPTW, Brigade has now earned this prestigious recognition for 11 years in a row. Additionally, Brigade Hospitality Services Limited was ranked 1st amongst India’s Great Mid-Size Workplaces and 4th amongst small and medium workplaces in Asia.
In Q2 FY22, Brigade Enterprises Ltd achieved Rs. 831 Crore in sales value, an increase of 73% over the previous quarter, with net area sales of 1.3 mn sft. The residential business, with contribution from the Bangalore, Chennai and Hyderabad markets continued to drive the strong performance of the Group. CRISIL has upgraded Brigade’s rating to A+ with a stable outlook. Overall, there has been a sharp revival across businesses.
