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True Value Homes Announces $750 mn housing projects in South India
Keeping up with feel-good sentiment in the real estate sector, and increasing demand for the affordable housing, True Value Homes India private Ltd. (TVH), Chennai based engineering, construction and project management firm, has announced a host of housing projects of worth $750 million in South India. The company in a press release, yesterday, has announced the housing projects in Tier II cities Coimbatore,Kochi,Tiruchi and Tirupati. Also the company is continue to focus on Chennai housing market, as it unveils its plan for projects at multiple locations the southern metro city. The investment is going to spread over a period of 3 to 4 years time.
TVH Svaya ? Affordable Gated Community Housing Project
The company, as a part of it's mega plans, has announced the launch of its TVH Svaya, an affordable housing project, in sprawling campus of 13-acres in Sriperumbdur on Kundruthur High Road, near to the SIPCOT Industrial Park. The project comprises of 840 apartments of 555 sq. ft. to 1,085 sq. ft. According to the company sources, the estimated cost of the project is going to be around $60 million. TVH Svaya is being part-funded by project finance from Punjab National Bank.
Keeping the increasing demand for housing projects in the mid income group, the company has fixed the price in the range of Rs. 14 lakh to Rs. 23.00 lakh. It is aimed at middle-class family earning an annual income of Rs. 5 lakh. The apartments would be ready for occupation within six months of booking. TVH Svaya occupies 30 per cent of construction area leaving the rest of the space for other recreational avenues. Some of the facilities on offer are: swimming pool, gymnasium, a community hall, open air theatre, children's plan area and jogger's track. TVH Svaya Chennai is scheduled to be completed by September.
According to the company sources, True Value Homes would announce projects similar to TVH-Svaya in Kochi, Coimbatore, Tiruchi, Tirupati, Madurai and multiple locations in Chennai in the next three months. Apart from, bank funding and private equity, TVH hopes to mop up resources through internal accruals to fund the proposed projects involving $750 million.
Certainly, TVH plans would give big push to the housing sector in South India, particularly Chennai and other major Tier II cities, one should commend the TVH for trying to bring the gated community homes within the reach of Mid Income groups, which is otherwise confined to the congested homes in the cities.
See properties for Sale/Rent in Chennai and other Cities of Tamil Nadu
TVH Svaya ? Affordable Gated Community Housing Project
The company, as a part of it's mega plans, has announced the launch of its TVH Svaya, an affordable housing project, in sprawling campus of 13-acres in Sriperumbdur on Kundruthur High Road, near to the SIPCOT Industrial Park. The project comprises of 840 apartments of 555 sq. ft. to 1,085 sq. ft. According to the company sources, the estimated cost of the project is going to be around $60 million. TVH Svaya is being part-funded by project finance from Punjab National Bank.
Keeping the increasing demand for housing projects in the mid income group, the company has fixed the price in the range of Rs. 14 lakh to Rs. 23.00 lakh. It is aimed at middle-class family earning an annual income of Rs. 5 lakh. The apartments would be ready for occupation within six months of booking. TVH Svaya occupies 30 per cent of construction area leaving the rest of the space for other recreational avenues. Some of the facilities on offer are: swimming pool, gymnasium, a community hall, open air theatre, children's plan area and jogger's track. TVH Svaya Chennai is scheduled to be completed by September.
According to the company sources, True Value Homes would announce projects similar to TVH-Svaya in Kochi, Coimbatore, Tiruchi, Tirupati, Madurai and multiple locations in Chennai in the next three months. Apart from, bank funding and private equity, TVH hopes to mop up resources through internal accruals to fund the proposed projects involving $750 million.
Certainly, TVH plans would give big push to the housing sector in South India, particularly Chennai and other major Tier II cities, one should commend the TVH for trying to bring the gated community homes within the reach of Mid Income groups, which is otherwise confined to the congested homes in the cities.
See properties for Sale/Rent in Chennai and other Cities of Tamil Nadu
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- | Courtesy : propertydirect.in,the hindu
- | Posted on : Feb 19, 2010
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