South India-based real-estate developer TVS Emerald has opened the sale of 662 housing units in Chennai worth Rs 600 crore, Moneycontrol has learnt.
The project, called TVS Emerald Elements, is located in Kovilambakkam, Chennai, and comprises 820 homes. They will be worth approximately Rs 800 crore by 2027, the company said.
The company has opened 662 units (3 out of the 4 towers) and an inventory of 448 units has been sold. This is equivalent to a booking value of Rs 438 crore. The timeline for the project completion is December 2027 with a 12-month grace period, the company said.
Spread over approximately 6.56 acres, the residential community is located on the 200 ft Radial Road in Kovilambakkam. Consisting of 820 homes, it is built over a total saleable area of 9.96 lakh sq ft. Buyers have an option of 2 and 3 BHK homes, ranging from 934 sq ft to 1,653 sq ft, at prices starting from Rs 68.99 lakh.
The project features five themed terraces. At its heart, there is a sprawling central podium spanning 35,000 sq ft, comprising amenities such as a tree house, a butterfly garden, a swimming pool, an outdoor gym and a zen garden.
The project offers a 9,000 sq ft clubhouse, with amenities such as yoga deck, a multipurpose hall, games room and co-working space.
"We are thrilled with the biggest sales milestone achieved by Elements. The triumph of this milestone achievement reinforces the confidence homebuyers have in us. We have more launches planned in Chennai and Bengaluru in this financial year,” said Sriram Iyer, director and CEO of TVS Emerald.
TVS Emerald is engaged in the business of developing sustainable residential projects and self-sustaining communities, mainly in Chennai and Bengaluru. It has delivered about 2.4 million sq ft of residential developments in Chennai and has over 6.25 million sq ft of under-development projects.
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