Brigade Group Acquires 5.4 Acres of Land in Velachery for ₹441.7 Crore
Real estate developer Brigade Group has acquired 5.4 acres of land in Velachery for ₹441.7 crore. The transaction is part of a major land-buying spree over the past two years, during which real estate developers invested more than ₹2,500 crore to acquire 79.9 acres of prime land parcels across Chennai for future projects.
The Velachery site, known for its mature social infrastructure and connectivity, is expected to see premium apartment projects. According to industry experts, these future developments will cater primarily to the upper-middle and affluent segments of the market.
Property consultants state that this wave of acquisitions marks a strategic shift among developers. Rather than focusing on a single growth corridor, developers are expanding across established city neighbourhoods, redevelopment zones, and emerging suburban markets.
While residential prices continue to rise steadily, the scarcity of large, litigation-free, and development-ready land parcels has pushed land values to new highs. Industry representatives note that land prices are currently appreciating faster than apartment prices in the city.
Other major transactions disclosed over the past two years include Baashyaam Group's acquisition of 5.8 acres on Haddows Road for ₹1,212 crore. Additionally, Canopy Living LLP—a joint venture between Prestige Estate Projects and Arihant Foundations and Housing—purchased 16.4 acres in Padi for ₹561 crore.
In other parts of the city, Freshworks founder Girish Mathrubootham acquired 7.6 grounds in Boat Club for ₹211 crore, while Arihant bought nine grounds on Anna Salai for ₹100 crore. In the suburban markets, DRA Homes picked up 4.3 acres in Chembarambakkam for ₹50 crore, and Godrej Properties acquired a 47-acre parcel off OMR in Kattur Village for an undisclosed value.
The nature of these future developments will vary by location. While prime city parcels like Boat Club and Anna Salai are suited for luxury residential or mixed-use developments, larger suburban parcels in Padi and OMR lend themselves to integrated residential communities, premium apartments, plotted developments, or villas.
