TVS Emerald and HDFC Cap Realty Fund Sign Agreement to Form a 1000 Cr Plotted Development Entity

Emerald Haven Realty, a TVS Motor subsidiary, has inked a term sheet with HDFC Capital Affordable Real Estate Fund-3 to establish an INR 1000 Cr platform for plotted development in Bengaluru.

The assets would be deployed in Chennai and Bengaluru by the fund's investment managers, HDFC Capital and Emerald.

TVS Emerald has been developing and delivering projects in Chennai for almost a decade and has just entered the Bangalore market with the launch of TVS Emerald Jardin and many fresh land purchases as per Sriram Iyer, president & CEO of TVS Emerald. 

He also mentioned that this was a strategic alliance to increase their plotted development portfolio in southern regions.

TVS Emerald, a subsidiary of TVS Motor, develops sustainable residential complexes and projects in Chennai and Bangalore.

It has produced over 2.4 million square feet of residential buildings in Chennai and has over 6.25 million square feet of projects in the works.

HDFC Capital is dedicated to collaborations with reputable estate companies that have a proven track record of development and execution and Via their platform with TVS Emerald, they will continue to address the growing need for high-quality, affordably priced planned projects according to Vipul Roongta, MD & CEO, HIDFC Capital Advisors.