ASK Group partners with TVS Emerald to setup Rs 400 crore real estate investment platform
ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group and Emerald Haven Realty Limited (TVS Emerald), the real estate arm of TVS Motor Company have joined hands to set up Rs 400 crore real estate investment platform. The capital raised will be invested in multiple affordable mid-segment projects.
Amit Bhagat, MD & CEO, ASK PIA said, “We strongly believe that affordable and mid- segment market offers huge growth potential and this is in sync with the TVS Emerald’s core purpose of providing better living space to the urban middle class.”
R. Chandramouli, President & CEO, TVS Emerald said, “Our endeavour is always to delight customer by fulfilling aspiration of the urban middle class in their quest for a better living space.”
Under the partnership, the companies will develop a 10 acre land parcel having 5,48,000 sq ft of saleable area with the equity investment of Rs 83 crore in Porur, Chennai.
“This platform is poised to get benefited in the heighted regulatory regime of RERA through focus execution and satisfying customer needs,” said Sunil Rohokale, MD & CEO, ASK Group.