by THO
Real estate developer Emerald Haven Realty Ltd (TVS Emerald) said on December 23 that it had purchased a 12-acre land parcel on Radial Road (PTR) in Chennai. The acquisition has a 2.5 million sq ft development potential and a revenue potential of ₹2800 crore.
This marks TVS Emerald’s third land acquisition in the current fiscal year. It follows the acquisition of a 4-acre parcel earlier this year in Padur, Chennai, and a 4-acre parcel in Thanisandra, Bengaluru.
“By securing this land on the premium and vibrant Radial Road corridor, we are expanding our footprint and creating substantial value for our stakeholders. This move aligns perfectly with our vision of developing world-class properties in high-potential locations,” Sriram Iyer, Director & CEO of TVS Emerald, said.
Previously, the developer launched a themed property project that achieved single-day sales of ₹438 crore in FY24 and TVS Emerald Lighthouse, two prominent residential developments in the micro-market.
Also Read: TVS Emerald buys third land parcel in Bengaluru with revenue potential of around ₹250 crore
Bullish in South India
In September, the company announced two land acquisitions in the southern cities of Bengaluru and Chennai with a combined booking value potential of ₹900 crore.
The company acquired a 4-acre land parcel in North Bengaluru’s Thanisandra locality with a tentative saleable area of half a million sq ft, and a potential booking value of ₹600 crore.
Simultaneously, TVS Emerald has secured a 4-acre land parcel in Padur, Chennai, with a booking value potential of ₹300 crore.
In March, the company announced the purchase of 3 acres of land (approx) in Rachenahalli, an emerging suburb in Northern Bengaluru, to develop an apartment housing project.
TVS Emerald, a fully owned subsidiary of TVS Holdings, is engaged in the business of developing residential projects and self-sustaining communities with a 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.
