Brigade Enterprise Limited (BEL) is set to launch a significant residential project in West Bengaluru, facilitated by Knight Frank India. This project, spanning 1.2 million square feet on an 8-acre land parcel, addresses the growing demand for quality housing in the area. The project has a projected sales value of INR 1,100 crore (USD 163 million). West Bengaluru's strong infrastructure, including a 30 km metro line and proximity to major highways and industrial areas, makes it an attractive location. With a surge in demand for high-end properties and rising property prices, this development aligns with the city's growth and expansion plans.
Brigade Enterprise Limited (BEL), a Bengaluru developer, is set to launch a significant residential project in the city's western suburbs. This news follows the successful facilitation of a Joint Development Agreement (JDA) by Knight Frank India, a real estate consultancy, for an 8-acre land parcel (approximately 34,440 sq m) in the area.
The project, estimated to encompass up to 1.2 million square feet (111,480 sq m) of developed space, aims to capitalise on the growing demand for quality housing in West Bengaluru. This micro-market has seen significant interest due to several factors. Strong infrastructure plays a key role, with the area boasting excellent connectivity via a 30 km long metro line connecting Silk Board in South Bengaluru and easy access to major highways like National Highway 48. The upcoming peripheral ring road passing through Yeshwantpur will further enhance accessibility.
West Bengaluru is also a thriving commercial sector, home to Grade A office spaces and enjoying proximity to key industrial areas like Peenya and Yeshwantpur. This makes it an attractive location for working professionals. The project itself has a projected sales value of INR 1,100 crore (USD 163 million), reflecting the strong demand in the area. On top of that, the area is witnessing continuous development of essential amenities like schools, hospitals, and shopping centres, creating a desirable living environment.
Commenting on the project, Pavithra Shankar, Managing Director of Brigade Enterprise, highlighted the strategic importance of West Bengaluru and commended Knight Frank for their role in securing the deal. She also emphasised Brigade's commitment to providing exceptional living experiences for residents and contributing to the city's growth, adding this project to their existing pipeline of over 12 million square feet (1.1 million sq m) of residential developments across Bengaluru, Chennai, and Hyderabad planned for the coming year.
Shishir Baijal, Chairman of Knight Frank India, congratulated Brigade on this exciting project and acknowledged their reputation for delivering innovative residential developments. He expressed confidence that the project will redefine the West Bengaluru micro-market and create a landmark addition to the city's skyline.
Bengaluru's residential market has witnessed a surge in demand, particularly for higher-end properties. This trend is reflected in the city's H1 2024 figures, with sales volume reaching 27,404 units and average property prices rising by 9% to INR 6,163 per square foot (USD 91 per sq m).
This development by Brigade Enterprise is poised to tap into this growing demand, offering residents a well-connected and well-equipped living space in a strategic location. It also aligns with the city's overall development plan, promoting West Bengaluru as a prime residential and commercial hub.
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