India, July 22 -- Bengaluru-based listed real estate developer Brigade Group has acquired a 20.19-acre land parcel along eastern Bengaluru's Whitefield-Hoskote Road for Rs.588.33 crore, the company said in a regulatory filing.

The plot is located in one of Bengaluru's fastest-growing corridors, with close proximity to IT parks, industrial zones, and key upcoming infrastructure. Brigade plans to develop a mixed-use project on the site with an estimated Gross Development Value (GDV) of Rs.5,200 crore. With a proposed built-up area of 4.2 million sq ft, the development will feature residential, commercial, and retail components.

The land was purchased outright through its subsidiary, Ananthay Properties Private Limited.

"This acquisition ...