Realty firm Brigade Enterprises Ltd has formed a partnership to develop a 6.6-acre housing project in Chennai with an estimated revenue of Rs 1,000 crore.
In a regulatory filing on Monday, the Bengaluru-based company informed that it has signed a Joint Development Agreement (JDA) for a 6.6-acre land parcel located in West Chennai.
"The estimated Gross Development Value (GDV) of the project is Rs 1,000 crore," it added.
"Chennai is our second-largest market, and this joint venture is a key step in deepening our presence and expanding our portfolio in the city," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said.
Chennai's real estate market is on a strong growth trajectory, driven by robust infrastructure and sustained demand from both end-users and investors, she said.
Brigade Enterprises Ltd is one of the leading real estate developers in the country.
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