TVS Motor's housing arm lines up 4-5 new housing projects.

TVS Emerald, associate company of TVS Motor that is one of the largest two-wheeler companies in country, is planning to set up 4-5 new housing projects in and around Chennai.

The company which delivered its maiden project said it may raise Rs. 200 crore from PE and other investors to support future projects.

TVS Emerald commenced its first project 'GreenHills' in June 2013 in Perungalathur, near Chennai.

R. Chandramouli, president and CEO, TVS Emerald said that all 448 apartments have been sold with more than 410 customers have taken possession. The project was delivered in May 2015, ahead of schedule.

Delivery of 150 villas at Greeh Hills will start by March next year. Total investment by the customers would be Rs. 250 crore in the entire project.

The housing arm of TVS Motor is set to take up its second project, which will come at Kolapakkam, near Tambaram. The project, which would be in the range of around Rs. 275-300 crore, will have 352 apartments and also have villas. Price would range from Rs. 25 lakh to Rs. 1.25 crore and these include 2BHK, 3 BHK and villas.


BS