The renowned Bengaluru based Prestige Estates joins hand with Brigade Group to develop a shopping mall and a hotel in Chennai, Tamil Nadu the project estimated to worth INR 500 crore. The two companies have already taken 7.5 acres land on land for 99 years lease. 

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The land will be utilized by the Prestige and Brigade group joined venture to develop one million sq ft area in this project. The project comprises of a shopping mall and a small hotel of around 125 keys. Prestige group Chairman and Managing Director Irfan Razack told, Prestige group will holds 70% share and the Brigade will have 30% of the project stake. 

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A Limited Liability Partnership agreement (LLP) has been made by Prestige Estates with Mysore Projects Pvt Ltd, a wholly owned  subsidiary of Brigade Enterprises Ltd in Prestige OMR Ventures LLP on Tuesday. Prestige OMR Ventures LLP has two partners. Prestige Estates and Mysore Projects Pvt Limited in the ratio of 70 percent and 30 percent, respectively. Brigade group also informed about this development separately. 

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