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TVS Emerald acquires 4-acre land parcel each in North Bengaluru, Chennai with combined revenue potential of ₹900 crore
The acquisitions have been made in high-demand residential markets of Thanisandra in North Bengaluru and Padur in Chennai
Emerald Haven Realty Ltd has announced two land acquisitions in the southern cities of Bengaluru and Chennai with a combined booking value potential of ₹900 crore.
The company has acquired a 4-acre land parcel in North Bengaluru’s Thanisandra locality with a tentative saleable area of half a million square feet, and a potential booking value of ₹600 crore, a statement said.
Simultaneously, TVS Emerald has also secured a 4-acre land parcel in Padur, Chennai, with a booking value potential of ₹300 crore.
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North Bengaluru is a rapidly growing suburb in North Bengaluru, with quick connectivity to the Kempegowda International Airport, NH44 and the Outer Ring Road.
“Our dual expansion in Bengaluru and Chennai demonstrates our commitment to delivering premium residential projects in high-growth areas. The Thanisandra project, our second in North Bengaluru, comes at a time when the region is seeing rapid development,” said Sriram Iyer, Director and CEO, TVS Emerald.
“...our investment in Padur, Chennai, underlines our focus on strengthening our presence in the Chennai market with projects that cater to the evolving needs of urban homebuyers,” he added.
About Emerald Haven Realty Ltd
TVS Emerald, a fully owned subsidiary of TVS Holdings, is engaged in the business of developing residential projects and self-sustaining communities with presence in Chennai and Bengaluru. The company has delivered more than 3 million square feet of residential developments in Chennai and has over 7 million square feet under development.
Also Read: DRA Homes acquires Marina Mall residences in Chennai for ₹25.10 crore
As per the company statement, TVS Emerald Isle of Trees, the company’s other ongoing project in Rachenahalli, North Bengaluru, is currently in its pre-launch phase and has garnered positive traction. “The newly acquired Thanisandra project is expected to further boost TVS Emerald’s market share in Bengaluru’s competitive real estate market,” the statement noted.
