TVS Emerald Acquires 12-Acre Land Parcel in Chennai for Development.

TVS Emerald, the real estate arm of TVS Holdings, has acquired a 12-acre land parcel on Radial Road, also known as Pallavaram-Thoraipakkam Road, in Chennai. This strategic purchase comes with a development potential of 2.5 million square feet and an estimated revenue of ₹2,800 crore, making it one of Chennai's largest real estate deals in the past two years.

The acquisition, announced on December 18, includes the purchase of Radial (Phase II) IT Park Pvt Ltd and Radial (Phase III) IT Park Pvt Ltd for a total consideration of ₹576 crore. It marks TVS Emerald’s third land acquisition in FY25, following purchases of four-acre parcels in Padur, Chennai, and Thanisandra, Bengaluru, earlier this year.

Sriram Iyer, Director & CEO of TVS Emerald, hailed the purchase as a "landmark acquisition," emphasizing its role in expanding the company’s presence in Chennai’s real estate market.

This is TVS Emerald’s third venture on Radial Road, building on the success of its themed property project, TVS Emerald Elements, which achieved single-day sales of ₹438 crore in FY24, and TVS Emerald Lighthouse, another notable residential development in the area.

The company has delivered 3.6 million square feet of residential projects in Chennai and is currently managing 8.6 million square feet of projects under development, showcasing its growing footprint in the real estate sector.

HBL