| Brigade Properties a joint venture between Brigade Enterprises and GIC, Singapore will jointly acquire a 15.86 acres of land parcel from Global paint major KansaiNerolac Paints in Chennai in a deal valued at Rs 550 crore.
The land parcel located on Perungudi on the Old Mahabalipuram Road in Chennai used to house the company's manufacturing units out of total five such factories across the country. In March, Brigade-GIC acquired a land parcel for Rs 200 crore from Hindustan Unilever to develop a IT Special Economic Zone (SEZ)of over 3 million sq. ft. in Brookefields, Whitefield, Bangalore. In 2014, Brigade Group and GIC also decided to jointly invest up to Rs. 1,500 crores in developments in various cities of South India including Bangalore and Chennai...............................................Full Article: Source
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