Brigade to develop 1.4 million sqft commercial project in Bengaluru; eyes rental income of ₹70 crore per year
Brigade Group will develop a commercial project comprising 1.4 million square feet in Bengaluru and expects to earn a rental income of ₹65-70 crore annually.
Realty firm Brigade Group on Tuesday said it will develop a commercial project comprising 1.4 million square feet area in Bengaluru and expects to earn a rental income of ₹65-70 crore annually.
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In a statement, Brigade Group said its subsidiary Brigade Tetrarch Pvt Ltd has entered into a Limited Liability Partnership (LLP) agreement to develop a 1.4 million square feet leasable commercial space. The proposed commercial development is expected to generate an annual lease income ranging from ₹65 to 70 crore.
"This project reflects our commitment to develop world-class tech-enabled commercial spaces, with adequate amenities that will cater to the dynamic needs of businesses. We are confident that this development will set new benchmarks in the commercial segment and contribute significantly to the economic growth of the city," said Nirupa Shankar, Joint Managing Director, Brigade Group.
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The project is strategically located on Airport Road, a prime commercial hub in Bengaluru, ensuring excellent connectivity and accessibility.
Brigade Group is one of India's leading property developers with over three decades of experience. Instituted in 1986, the company has developed many projects in Bengaluru, Mysuru, Hyderabad, Chennai and Kochi.
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The group is into development of residential, office, retail, hospitality and education projects. Since its inception, Brigade has completed more than 275 buildings amounting to over 80 million sq ft of developed space.