TVS Emerald plans a luxury residential project in Bengaluru.

Emerald Haven Realty Ltd. (TVS Emerald), the real estate arm of TVS Motor Company, plans a luxury residential project in Bengaluru as the company has bought its second land parcel that offers a development potential of ₹400 crore.

Emerald has bought 1.14 acres of land in the Central Business District (CBD), the city centre and core commercial area of Bengaluru. The land parcel is located in a well-developed neighbourhood. It is close to Richmond Circle and Cubbon Park, and easily accessible from MG Road, according to a statement.

The new project in CBD will cater to the uber-luxury residential segment. CBD is one of the preferred localities in Bengaluru with a growing demand for high-end residential spaces. This project is to be launched during the next fiscal.

The residential project will come up at a place that is strategically located close to Richmond Circle with good connectivity to UB city, MG road, Residency Road and Church Street. The locality offers a well-developed social infrastructure with educational institutes, healthcare facilities and retail avenues in proximity, it said.

HBL