Real estate company Brigade Enterprises has shared the details of its latest land acquisition. In a press release, the company said that it has just acquired a piece of land in Hyderabad.
The acquired land measures 5.72 acres in size, the company said.
Brigade Enterprises said that it has purchased the land in Hyderabad through auction. The value of the land is said to be about Rs 250 crore.
Brigade Enterprises said that it will build a housing project on the acquired land, according to the press release.
The land was acquired through an auction conducted by the Telangana Industrial Infrastructure Corporation (TGIIC).
The acquired land is located in the Osman Nagar area of Hyderabad.
The company said that the price of the land was Rs 44 crore per acre, excluding registration costs.
Notably, Hyderabad has emerged as one of the most dynamic real estate markets in the country.
Amar Mysore, Executive Director, Brigade Enterprises, said that Hyderabad has been a key focus market for the company.
"The land parcel is a strategic fit, meeting our stringent criteria for scale and suitability for premium development," he said.
Brigade Enterprises, founded in 1986, is a leading real estate company in the country. It has developed several real estate projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City.
