Chennai Based True Value Homes to Develop 12 Projects at an Investment of Rs 800cr

Published: March 23, 2011

Chennai-based real estate developer, True Value Homes India Pvt Ltd (TVH), has announced plans to invest Rs 800 crore over the next three years to develop around 12 projects, majority of which will be in the residential segment. The investment would be from internal accruals and debt.

The company has so far developed six million sq ft cumulatively in both commercial and residential space. It is now developing around five million sq ft with major share of the projects in Chennai. It has a few more projects in the pipeline — to develop around seven million sq ft — and which may go up according to the market condition in future, said N Ravichandran, chairman, TVH.

“We have projects in Chennai, Coimbatore and Trichy. TVH is also looking at the fast growing Tier II cities for property development. We are planning a joint venture project in Madurai. Our current pipeline is to develop a total area of around 12 million sq ft on around 12 projects,” said Ravichandran.

Besides, the company is looking at starting projects at Thiruvananthapuran and Kochi in Kerala in the medium segment. It also has plans to start a project in Bangalore. However, he refused to divulge details of projects stating it was in the pipeline.

Of the total projects, 80-90 per cent would be residential, while the rest would be in the commercial space, he said. TVH recently announced the launch of its Rs 125-crore high-end green residential project, TAUS, at Old Mahabalipuram Road, near here, with 403 apartments. The company, which clocked a turnover of Rs 500 crore in the fiscal 2009-10, expects to end the current fiscal with Rs 650 crore.

Source: Indian Realty News

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