Brigade Enterprises acquires 9.71 acres land in Hyderabad for Rs 660.28 crore, ET RealEstate
NEW DELHI: Brigade Enterprises has successfully bid in an e-auction conducted by Hyderabad Metropolitan Development Authority (HMDA) for 9.71 acres of land in Neopolis, Kokapet, Hyderabad at a value of Rs. 68 crore an acre, the company informed in a BSE filing.
In September 2023, Brigade Tetrarch, a wholly owned subsidiary of the company had entered into a sale deed for acquiring 5 acres 35.25 guntas of land parcel located at Venkatala Village, Yelahanka Hobli, Bengaluru for an overall consideration of Rs 123.50 crores from Bangalore Ceramics.
“We will be developing a residential project on this land parcel with an overall development of nearly one million sq ft with an overall revenue potential of around Rs. 800 crore,” it had said in the regulatory filing.
In August 2023, the company had acquired 6.54 acres of land parcel located at Rajiv Gandhi Salai (Old Mahabalipuram Road), Sholinganallur, Chennai from Pfizer Healthcare India for an overall consideration of Rs. 138.83 crore. The company will be developing a residential project on this land parcel with an overall development of over one million sq ft.