TVS Motor Company’s real estate arm -- TVS Emerald -- has reportedly entered into partnership with ASK Property Investment Advisors (ASK PIA) to set up Rs 400 crore real estate investment platform.
Both the entities will jointly infuse money. The capital raised will be invested in affordable mid-income housing projects.
Through this platform, both partners have announced its first investment in Porur, Chennai. The project is being developed on a 10 acre land parcel having 5,48,000 sq ft of saleable area with an investment of Rs 83 crore.
TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.