Real estate developer TVS Emerald has recently finalized a joint venture agreement with HDFC Capital in Chennai, with ongoing discussions about additional collaborations, as reported by informed sources. The initial agreement pertains to a project in Pudupakkam, Chennai, with negotiations ongoing for further deals.
Both entities are actively pursuing investment opportunities for strategically located land parcels in Chennai and Bengaluru. The upcoming projects are expected to cater to the mid-segment housing market, with project sizes ranging from INR 50 crore to INR 200 crore.
In the preceding month, TVS Emerald introduced 662 housing units for sale in Chennai, with a cumulative value of INR 600 crore. Spanning approximately 6.56 acres, the residential complex is situated on the 200 ft Radial Road in Kovilambakkam. Comprising a total of 820 homes, the development boasts a saleable area of 9.96 lakh square feet. Prospective buyers can choose from an array of 2 and 3 BHK homes, ranging from 934 to 1,653 square feet, with prices commencing at INR 68.99 lakh.
Furthermore, in March, TVS Emerald procured three acres of land in an emerging northern suburb of Bengaluru, envisioning a residential project with an estimated revenue potential of INR 250 crore.
The company has already delivered around 2.4 million square feet of residential developments in Chennai and Bengaluru combined, while presently overseeing the development of over 6.25 million square feet.