NE BUSINESS BURAEU
CHENNAI, DEC 6
Emerald Haven Realty Ltd (TVS Emerald) on Monday announced that it has purchased 1.14 acres of land in the Central Business District, the city center and core commercial area of Bengaluru. The land parcel is located in a well-developed neighborhood that is close to Richmond circle, Cubbon Park and easily accessible from MG Road.
The land is estimated to have a developable potential of over Rs. 400 crores.
Commenting on this, Sriram Iyer, President & CEO, TVS Emerald, said, “This is our second project in Bengaluru after the stupendous success of our recent launch, TVS Emerald Jardin, Singasandra. We have sold about 80% of our inventory in less than 2 months of the launch.
- The land parcel is located in a well-developed neighbourhood that is close to Richmond Circle, Cubbon Park and easily accessible from MG Road.
- The project is expected to be launched in FY’24: Sriram Iyer, President & CEO
This 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. The project is expected to be launched in FY’24.”
The land parcel is strategically located close to Richmond Circle with good connectivity to UB city, MG road, Residency Road and Church Street. The locality offers well-developed social infrastructure with educational institutes, healthcare facilities and retail avenues in proximity.
