Published On:September 12 2024
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"Brigade Group to Develop ₹600 Crore Residential Complex in Velachery, Chennai"
Bangalore-based real estate developer Brigade Group is set to expand its footprint in Chennai with a new ₹600 crore residential project in Velachery. The development will take place on the site of the former Raptakos, Brett & Company Limited facility, which has been shut down for years. Located between Phoenix Mall and Westside, the project is expected to include four 18-story towers, offering 400 residential units across 21,004 square meters.
While the company has not officially confirmed the details, a spokesperson called the reports "speculative."
Brigade Group has a significant presence in Chennai, with 125 acres and 17 million square feet of developable space. The company currently has six projects in the city, both completed and under construction, including Brigade Vantage (retail), WTC Chennai (office), Brigade Residences at WTC (residential), Holiday Inn (hospitality), Brigade Xanadu (residential), and the newly launched Icon, a mixed-use development.
The Raptakos facility, built over 60 years ago, was once on the outskirts of Chennai but now finds itself in a dense residential area due to the city’s expansion. According to a notice from the pharmaceutical company, the factory’s closure was attributed to several factors, including traffic restrictions that hindered the movement of heavy vehicles, impacting its operations.
HBL