Brigade Group aims Rs 300 cr revenue from new luxury housing project in Mysuru

Realty firm Brigade Enterprises Ltd has entered into a partnership to develop a luxury housing project in Mysuru with an estimated revenue potential of Rs 300 crore. Bengaluru-based Brigade Enterprises in a statement on Tuesday said that the company has entered into a Joint Development Agreement (JDA) with land owners to develop a luxury residential project, spread over 4 acres at Kurubarahalli, Mysuru.

"The developable area of the project will be about 0.40 million sq ft with a Gross Development Value (GDV) of Rs 300 crore," it said. The JDA will add to Brigade Group's residential portflio in Mysuru of over 25 residential projects.

"Brigade has been a strong brand in Mysuru over the last three decades. With this new launch, we reaffirm our commitment to this growing city," said Pavitra Shankar, Managing Director, Brigade Enterprises Limited. Brigade Group has a strong pipeline over the next year, of around 13 million square feet in Bengaluru, Hyderabad, and Chennai, of which 11 million square feet is from residential projects.

Last month, Brigade Enterprises entered into a partnership with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru with an estimated sales value of Rs 2,100 crore. Brigade Group had signed a joint development agreement with Krishna Priya Estates and Micro Labs to develop around 2 million sq ft of residential project in Bengaluru with a Gross Development Value (GDV) of Rs 2,100 crore. The 14-acre land parcel is located at Yelahanka in North Bengaluru.