Brigade Group to develop Rs 225cr premium residential project in Mysuru

In a strategic move to strengthen its presence in Karnataka‘s fastest-growing Tier 2 city, Brigade Enterprises Limited has signed a joint development agreement (JDA) for a new premium residential project in Mysuru, valued at ₹225 crore. The agreement, signed on April 7, 2025, covers the development of 10 acres and 37 guntas of land, offering a total development potential of 0.37 million square feet. The project includes a mix of premium plots and high-end apartments, reinforcing Brigade Group’s focus on expanding its diversified real estate portfolio across South India.

This latest development continues Brigade Group’s investment momentum in Mysuru, where the company already operates approximately 30 projects spanning residential, office, retail, and hospitality segments. The new undertaking reflects the company’s long-term confidence in the Mysuru market and its vision to build future-ready, lifestyle-oriented communities in emerging urban centres.

Why is Mysuru Emerging as a Prime Real Estate Destination in Karnataka?

Mysuru’s evolution into a real estate hotspot is underpinned by a blend of socio-economic and infrastructural factors. Traditionally known for its cultural heritage and tourism appeal, Mysuru has transformed in recent years into a modern urban centre, propelled by significant improvements in infrastructure. Key among these is the Bengaluru-Mysuru expressway, which has drastically reduced travel time and improved connectivity between the two cities. This infrastructure boost has had a cascading effect on property demand, especially among middle-income and affluent homebuyers seeking a quieter, more liveable alternative to Bengaluru.

Pavitra Shankar, Managing Director of Brigade Enterprises Limited, emphasised this shift, stating that Mysuru’s combination of cultural richness and rising infrastructure standards has made it an increasingly desirable destination for homeownership. She noted that the expressway has helped bridge the gap between Tier 1 and Tier 2 urban experiences, attracting discerning buyers who value high-quality living in a less congested environment.

Mysuru’s emergence as Karnataka’s largest Tier 2 residential market is also driven by rising disposable incomes, expanding job opportunities in IT and allied services, and government initiatives aimed at decentralising urban development. With a growing demand for integrated townships and premium gated communities, developers like Brigade Group are keen to tap into this upward trajectory.

What Are the Features of Brigade Group’s New Project in Mysuru?

Brigade’s latest project in Mysuru aims to redefine the standards of premium residential development outside the metro cities. The 0.37 million square foot project will feature a dual-format configuration, offering both plotted developments over 8 acres and apartment residences across 2 acres. This hybrid model caters to varied buyer segments—from investors seeking land appreciation to families desiring fully built homes in a secure, premium setting.

The project’s location is another key advantage. Positioned close to the Bengaluru-Mysuru highway, it offers seamless access for commuters, professionals, and business travellers. Its connectivity advantage is expected to further boost demand among those relocating from Bengaluru or seeking weekend homes in Mysuru’s calmer setting.

Brigade Group is positioning this development as a “convenient and aspirational address” that meets the rising aspirations of new-age homebuyers. With a focus on lifestyle and community living, the project promises a harmonious mix of luxury, convenience, and connectivity—a trifecta that increasingly defines modern residential demand in India’s Tier 2 cities.

How Does This Project Align with Brigade Group’s Broader Strategy?

Established in 1986, Brigade Group has long been one of India’s premier real estate developers with operations across key southern markets, including Bengaluru, Hyderabad, Chennai, Kochi, Trivandrum, and even Gujarat’s Gift City. Over nearly four decades, the company has built a reputation for developing landmark buildings and integrated projects spanning residential, office, retail, and hospitality spaces.

This new project in Mysuru is consistent with Brigade’s strategy of leveraging high-potential Tier 2 cities for long-term growth. The company has increasingly targeted cities with improving connectivity, urbanisation trends, and rising lifestyle aspirations—factors that Mysuru checks convincingly.

Brigade’s focus on integrated communities and customer-centric development has positioned it as a trusted brand among urban homebuyers. The Group’s earlier residential projects in Mysuru have enjoyed robust sales and strong end-user interest, paving the way for deeper investment into the region.

Industry analysts have observed a trend where real estate players are rebalancing their exposure away from saturated metro markets toward emerging cities that offer a better cost-to-value proposition and fewer regulatory bottlenecks. In that context, Brigade’s renewed thrust in Mysuru fits squarely within broader sectoral realignment.

How Is Brigade Enterprises Performing in the Stock Market?

Brigade Enterprises Limited, listed on both the National Stock Exchange and Bombay Stock Exchange under the ticker BRIGADE, has experienced recent market volatility. As of April 7, 2025, the stock closed at ₹895.85, marking a 5.62% decline from the previous day’s close of ₹949.10. This places it just above its 52-week low of ₹852.00 and significantly below the 52-week high of ₹1,453.10, suggesting a phase of correction despite underlying fundamentals remaining strong.

Recent financial results for the third quarter of FY25 have been impressive. The company reported a threefold jump in net profit to ₹236 crore, supported by a 27% year-on-year rise in revenue to ₹1,530 crore. This performance reflects the success of recent launches and consistent demand across Brigade’s key markets.

However, technical signals present a cautious outlook. A stochastic crossover observed in early April typically indicates short-term weakness. Historically, this has been followed by an average price drop of over 7% within seven weeks, based on long-term trends. Investors tracking price momentum should therefore monitor short-term movements carefully.

Despite near-term caution, brokerage sentiment remains bullish. Analysts at Motilal Oswal have maintained a ‘Buy’ rating with a target price of ₹1,415, implying a potential upside of over 58% from current levels. This bullish stance is rooted in Brigade’s strong balance sheet, consistent project execution, and the company’s ability to capture growth in both metro and Tier 2 markets.

For long-term investors, the current correction could offer a favourable entry point, particularly given the company’s active development pipeline, expanding regional footprint, and rising brand equity. Those with a shorter-term outlook may consider waiting for a more stable trend confirmation before entering.

How Will This Development Impact the Broader Real Estate Landscape in South India?

Brigade’s move adds momentum to a larger trend of real estate decentralisation across South India. As cities like Bengaluru face saturation, developers are increasingly turning to nearby urban hubs like Mysuru, Coimbatore, and Vijayawada to unlock new growth channels. These markets offer relatively affordable land, rising urbanisation, and a younger demographic seeking lifestyle housing—all of which support long-term value creation.

Mysuru’s transformation into a real estate magnet is also indicative of shifting buyer preferences in post-pandemic India. With remote and hybrid work gaining wider acceptance, many families are prioritising spacious homes, community-focused layouts, and access to open spaces—features more easily achieved in Tier 2 settings than in overcrowded metros.

For the real estate sector, projects like this reinforce the viability of regional markets and may attract additional private equity interest or joint venture opportunities in cities beyond Bengaluru. It also sends a signal to policymakers about the importance of sustaining infrastructure investments in emerging urban centres to support balanced economic growth.

As Brigade Group deepens its presence in Mysuru through this ₹225 crore joint development, it is not merely adding another project to its portfolio. It is betting on the future of aspirational, mid-sized Indian cities that are rapidly redefining urban living beyond the metros. With its strategic location, hybrid development mix, and alignment with lifestyle trends, the project is expected to set new standards for premium residential real estate in Karnataka’s Tier 2 heartland.