Bengaluru-based listed real estate developer Brigade Group has signed an agreement to develop a residential land parcel on Whitefield-Hoskote Road, Bengaluru with a development potential of ₹2700 crore, the company said on January 3.
Sprawling across 20 acres, the residential project will have a total saleable area of approximately 2.5 million sq ft and a total land cost of about ₹630 crore through its subsidiary Ananthay Properties Private Limited.
“We remain focused on acquiring prime land in key markets to strengthen our land holdings. This project plays a significant role in supporting our long-term residential expansion strategy. We are committed to developing a property that upholds the highest standards of quality and sustainability, while meeting the evolving needs and preferences of our future residents,” Pavitra Shankar, Managing Director of Brigade Enterprises Ltd said.
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In August 2024, the company announced to develop a ₹750-crore commercial space on Old Airport Road in Bengaluru. The commercial development included 1.4 million square feet of leasable area which is expected to generate an annual lease income of ₹100 crore.
Further, in June 2024, the company launched Brigade Insignia, a premium residential project in Yelahanka, Bengaluru, with a revenue potential of ₹1100 crore. Brigade Insignia comprises six towers housing 379 units of 3, 4, and 5 BHK apartments, spread across a 6-acre land parcel.
Currently, the company has a pipeline of upcoming residential projects, with approximately 12.61 million square feet of new developments across Bengaluru, Chennai, and Hyderabad.
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Prime location of Whitefield
Rentals in the prime areas of Whitefield and Sarjapura in the southeast—being snapped up vigorously by techies—saw a major rental surge of nearly 20-25 percent in the last two years.
“This led to several shifts from the IT corridor to the outskirts, where homes remain affordable. Areas like Glenwood Layout and Varthur Road remain in demand due to their close proximity to the IT corridor. In the recent months, we have received major queries for these areas, especially from people looking forward to moving to Bengaluru,” Singh said.
The outskirts of Whitefield typically have a monthly rent of RS 25,000 for a 2BHK with a 6-9 month deposit. Additionally, a 2BHK on the outskirts of Sarjapura Road is being rented out for ₹20,000. Experts say they expect these areas to appreciate by 10%-20% in 2025.
However, areas like Whitefield witnessed major water shortages in 2023-24 due to unplanned real estate development and the infrastructural boom. Several apartments in posh gated societies received only limited water slots per day.
Additionally, Whitefield also sees major traffic bottlenecks, especially close to the IT corridor. The recently started Namma Metro helped greatly decongest the area.
