Emerald Haven Realty Ltd, a fully owned subsidiary of TVS Holdings, has announced the acquisition of two 4-acre land parcels in high-demand residential markets: one in North Bengaluru’s Thanisandra and another in Padur, Chennai.
As reported by Hindustan Times, the total potential booking value of these acquisitions is estimated at ₹900 crore.
The land parcel in Thanisandra features a tentative saleable area of approximately 500,000 square feet, with a potential booking value of ₹600 crore. This area is rapidly evolving into a sought-after residential hub due to its excellent connectivity to major infrastructures, including Kempegowda International Airport, NH44, and the Outer Ring Road.
Sriram Iyer, director and CEO of TVS Emerald, emphasized the significance of this acquisition, stating, “Our dual expansion in Bengaluru and Chennai demonstrates our commitment to delivering premium residential projects in high-growth areas.” He noted that the Thanisandra project is the company’s second venture in North Bengaluru, coinciding with a period of rapid development in the region.
Simultaneously, TVS Emerald secured a 4-acre land parcel in Padur, Chennai, with a projected booking value of ₹300 crore. This investment underscores the company’s focus on strengthening its presence in the Chennai market, catering to the evolving needs of urban homebuyers.
The real estate landscape in North Bengaluru is projected to experience faster property price growth compared to the city average. This trend addresses ongoing concerns about traffic congestion and highlights the area’s appeal to potential buyers.
TVS Emerald aims to capture this growing demand, with the newly acquired Thanisandra project expected to bolster the company’s market share in Bengaluru’s competitive real estate environment.
Emerald Haven Realty has a track record of developing residential projects and self-sustaining communities, with more than 3 million square feet delivered in Chennai and over 7 million square feet currently under development. The company’s other ongoing project, Emerald Isle of Trees in Rachenahalli, North Bengaluru, is in its pre-launch phase and has garnered positive traction.
Iyer noted, “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.”