Real estate developer TVS Emerald, a subsidiary of Emerald Haven Realty Ltd, announced on December 23 the acquisition of a 12-acre land parcel on Radial Road (PTR) in Chennai. The site offers a development potential of 2.5 million sq ft, with an estimated revenue generation of ₹2800 crore.
This acquisition marks TVS Emerald’s third land purchase in the current financial year. Earlier, the company secured a 4-acre plot in Padur, Chennai, and another 4-acre plot in Thanisandra, Bengaluru.
“With this strategic acquisition along the vibrant Radial Road corridor, we are broadening our reach while creating significant value for our stakeholders. This aligns seamlessly with our vision of delivering world-class developments in high-growth areas,” said Sriram Iyer, Director and CEO of TVS Emerald.
The company has previously launched notable projects in the region, including a themed property that achieved single-day sales of ₹438 crore in FY24 and the TVS Emerald Lighthouse residential project in Chennai.
Expanding Presence in South India
TVS Emerald has been actively growing its footprint in South India. In September, the developer announced two major land acquisitions in Bengaluru and Chennai, collectively offering a booking value potential of ₹900 crore.
In North Bengaluru’s Thanisandra locality, TVS Emerald acquired a 4-acre parcel with a tentative saleable area of 500,000 sq ft and an estimated booking value of ₹600 crore. Additionally, a 4-acre parcel in Padur, Chennai, is expected to generate a booking value of ₹300 crore.
Earlier in March, the company purchased approximately 3 acres in Rachenahalli, a growing suburb in North Bengaluru, to develop an apartment housing project.
Track Record and Future Plans
TVS Emerald has firmly established itself in the residential real estate sector, focusing on developing sustainable communities. With a strong presence in Chennai and Bengaluru, the company has completed over 3 million sq ft of residential projects in Chennai and currently has more than 7 million sq ft under development.
Chirag Singh is a content writer with a focus on real estate, covering topics like News, Guidance, Tips, Property trends and Investments. He has written for various platforms, providing helpful insights to readers. With a background in real estate, Chirag combines his knowledge and passion for real estate in his work. He enjoys staying updated on the latest industry trends.