TVS Emerald, HDFC Cap create Rs 1000 cr platform for plotted development projects

Chennai, Bangalore, March 29, 2023: Emerald Haven Realty Ltd (“TVS Emerald”), has signed a term sheet with HDFC Capital Affordable Real Estate Fund – 3 (acting through its investment manager HDFC Capital Advisors Limited), to create a Rs.1000 crore platform for plotted development projects across Chennai and Bangalore.

Sriram Iyer, President & CEO, said, “TVS Emerald has been developing and delivering state-of-the-art projects in Chennai for close to ten years and has entered the Bangalore market with the recent launch of TVS Emerald Jardin and several new land acquisitions. This is a strategic tie-up to grow our plotted development portfolio in the South markets.”

Vipul Roongta, MD & CEO, HDFC Capital Advisors Limited, said, “HDFC Capital is committed to partnerships with trusted real estate brands with a strong track record of development and delivery. Through our platform with TVS Emerald, we will continue our focus on meeting the increasing demand for high-quality plotted developments at affordable prices.”