The entrance of Raptakos Brett & Company Ltd, Velachery, Chennai.
| Photo Credit:
BIJOY GHOSH
Brigade Enterprise, the Bengaluru-based real estate development company, has acquired a property of Raptakos, Brett & Company of 5.41 acres in Velachery Road, Chennai, through an outright purchase valued at ₹442 crore to develop a premium residential project with a total development potential of 0.8 million sq ft.
The Gross Development Value of approximately ₹1,600 crore, says a company release. businessine broke the story in September 2024.
It plans a high-rise group development at the Raptakos, Brett & Company Ltd facility, which has been closed for many years. The site is next to Phoenix Mall in Velachery.
A company statement says that the project will offer seamless connectivity to both the IT Corridor of OMR, and the Central Business District (CBD).
Pavitra Shankar, Managing Director, Brigade Enterprises Ltd said, “Chennai has grown into our second largest market after consistent and strategic investment in business development. This acquisition reinforces our commitment to expanding our footprint in the city with a focus on marquee land parcels in excellent locations. Our aim is to address the strong demand for thoughtfully designed high-quality residential spaces that resonate with the aspirations of modern consumers. Velachery’s prime location and connectivity make it an ideal choice for creating a vibrant community, aligning with our vision of delivering exceptional living experiences.”
In Chennai, Brigade has over 125 acres and 17 million sq ft of developable area. It has six projects in Chennai both delivered and under construction – Brigade Vantage (retail), WTC Chennai (office), Brigade Residences at WTC (residential), Holiday Inn (hospitality), Brigade Xanadu (residential) and Icon, which was recently launched, a mixed-use development.
On the NSE, the company’s share price closed at ₹1,085, up by ₹4.60 (0.43 per cent).
Published on May 14, 2025
