TVS Emerald buys a 12-acre Land in Chennai for a Project worth Rs. 2800 crore

The acquisition, which is situated on Chennai's Radial Road (PTR), has 2.5 million square feet of development potential, according to the company.

On December 23, the real estate developer Emerald Haven Realty Ltd. (TVS Emerald) announced that it had acquired a 12-acre plot of land on Chennai's Radial Road (PTR). The acquisition has the potential to generate Rs. 2800 crore in revenue and 2.5 million square feet of development space.

This is the third piece of land that TVS Emerald has purchased this fiscal year. It comes after the purchase of two 4-acre lots earlier this year, one in Thanisandra, Bengaluru, and the other in Padur, Chennai.

By obtaining this property on the desirable and busy Radial Road corridor, we are growing our presence and adding significant value for our stakeholders. Director & CEO of TVS Emerald Sriram Iyer stated, "This move perfectly aligns with our vision of developing world-class properties in high-potential locations."

Prior to this, the developer introduced TVS Emerald Lighthouse, a well-known residential development in the micromarket, and a themed real estate project that in FY24 saw single-day sales of Rs. 438 crores.

The company announced in September that it had acquired two land acquisitions with a combined potential booking value of Rs. 900 crores in Bengaluru and Chennai, two cities in the southern region.

The company purchased a 4-acre plot of land in the Thanisandra locality of North Bengaluru, with a possible booking value of Rs. 600 crore and a tentative saleable area of 500,000 square feet.