Brigade Group, a Bangalore-based real estate developer, announced its entry into plotted development or the villa space, responding to post-COVID changes in the market.
The company said it plans to announce several gated community villa projects in the coming months.
It will start off with a 66-acre project in Devanahalli, near the Bangalore airport, on the Satellite Town Ring Road (STRR).
The project will offer plots ranging from 1,200 square feet to 2,400 square feet under the project, which is being envisaged as a joint development.
Devanahalli has already seen a lot of projects launch in recent years, including both apartments and villa-oriented gated communities.
“North Bangalore has been witnessing significant growth, driven by IT/BPM, Aerospace and R&D which has created a huge demand for plotted developments and this new project by Brigade Group will surely attract the attention of discerning buyers.
Brigade Group, has so far focused only on the apartment market, including in Devanahalli or the village of Devas.
However, said the real estate developer, there has been an increase in demand for well laid out independent houses and villas after the COVID-19 pandemic.
“Post the pandemic, the demand for plotted development has increased and this is an opportune time for us to diversify our portfolio.
“With the STRR nearing completion in that part of Bengaluru, this project will have excellent connectivity in and around Bangalore, virtually connecting National Highway and State Highway corridors. We have more launches planned in the plotted development segment in the quarters to come,” it said.
Villa projects from the likes of Brigade Group tend to offer the best of both worlds — the pride and convenience of owning a piece of land with a small garden, and the convenience of community living offered by a gated community.
Brigade Group had sales of 1.1 mn sft, valued at 684 Cr, in its residential business alone in the previous quarter.
While Bangalore continues to be the primary contributor to the company’s sales, said the company, it will focus on the whole of South Indian market, and is aiming to increase the contribution of Chennai and Hyderabad markets in its overall portfolio.
Brigade Group was founded in 1986, and is a hard-to-miss presence in the Bangalore skyline. It has also launched projects in other cities like Mysuru, Hyderabad, Chennai and Kochi, and has completed over 250 buildings.
The company is strong in both residential as well as commercial real estate.