Realty player Brigade Group has signed a joint development agreement (JDA) for a project with a gross development value (GDV) of ₹225 crore in Mysuru. The company has acquired 10 acres and 37 guntas for the project, which has a total development potential of 0.37 million sq ft.
The development will feature premium plots spread across 8 acres and premium apartments on the remaining 2 acres.
Speaking on the development, Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said, “Mysuru holds immense potential as a growth hub and has witnessed a clear uptick in real estate activity in recent years, especially following the improved connectivity brought about by the Bengaluru–Mysuru Expressway. As the largest Tier 2 market in Karnataka, Mysuru continues to attract discerning homebuyers seeking a high quality of life.”
The company has recently purchased a 20-acre parcel of land on Whitefield–Hoskote Road for a residential project with a gross development value (GDV) potential of nearly ₹2,700 crore. In addition to this, we plan to develop approximately 0.45 million square feet of residential space with a GDV of ₹300 crore.