Brigade Enterprises expands with Rs 660 crore land acquisition in Hyderabad

Brigade Enterprises, a real estate company, has acquired a 9.71-acre land parcel in Hyderabad for Rs 660 crore as part of its expansion plans. 

The purchase was made through a successful bid in an e-auction held by the Hyderabad Metropolitan Development Authority (HMDA) in August. This land, located in Neopolis, Kokapet, Hyderabad, was secured at a rate of Rs 68 crore per acre and has been officially registered in Brigade Enterprises' name.

Diverse city projects

Although the company did not disclose specific details about the project planned for this land, they are known for their residential, commercial, and hotel developments in various South Indian cities, including Bengaluru, Mysuru, Hyderabad, Chennai, and Kochi.

Chennai land acquisition

In a separate transaction, Brigade Enterprises acquired a 6.54-acre land parcel in Chennai from Pfizer Healthcare India for approximately Rs 139 crore, with the plan of developing a residential project.

Real estate developers, especially publicly listed ones, are actively acquiring land parcels to meet the growing demand for housing following the pandemic. These developers are not only making outright land purchases but are also entering into partnerships with landowners for project development. These collaborations involve various arrangements, such as revenue sharing, profit-sharing, or area allocation, in Joint Development Agreements (JDAs) with landowners.

(With PTI Inputs)