TVS into real estate sector and launches first project in Chennai
Chennai- The first thing which strikes our mind after hearing TVS group is auto components and two-wheelers. But now after four decades, this Chennai based group has taken a major step of diversifying into real estate .
The group has announced the launch of their new residential project in Chennai named “Green Hills” at Perungalathur, south of Tambaram in Chennai. TVS group earlier promoted Emerald Haven Realty which is a boutique real estate firm located in Austin, Texas. This new project of TVS in Chennai would be part of “Emerald” initiative by TVS Housing.
TVS Green Hills will have 448 luxury apartments which are Vaastu compliant. They are offering 2 BHK apartments in three different sizes. The price of these units will range between Rs 25 lakh to Rs 45 lakh.
Chairman and MD of TVS Motor feels that entering into real estate will be a game changer step for the company. The group is looking forward to serve people with their housing projects for coming years. He also feels that the group missed to take initiative in IT sector which would add significant value and size to company.
Perungalathur is situated just before the Chennai Bypass Road . Thus it gives good connectivity to Porur, Madhuravoyal and surrounding localities. The project location also gives easy access to other parts of the Chennai city too. This location is preferred junction for all people who wish to travel long distances to south by buses.
It is also expected that the suggested mono-rail facility linking Vandalur with Velachery would add value to the location. It will be a good option for investment in this locality. According to a consultant many companies like Ashok Leyland, Sanmar Group, India Cements dropped the idea of housing projects when core competency came on hype. Thus, TVS group must also play carefully in real estate sector.
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