TVS enters real estate, starts affordable project in Chennai

Now TVS Group has forayed into real estate business after auto components and two-wheelers. The TVS Group headquartered in Chennai. The auto major has promoted Emerald Haven Realty which has already launched a housing project in Chennai. The maiden project -- Green Hills in Perungalathur, just South of Chennai, has been conceived. In all, there are 448 dwelling units in the project, with a price range of Rs 25 lakh to Rs 45 lakh.

While no financial details were available, sources said that the real estate foray is a significant strategic decision by the group.

In the last 40 years, TVS has not created another mass market business after automobile components and two wheelers, particularly motorcycles. Given that housing for a billion people will remain a core priority for the next several decades, the real estate wave isn't going away any time soon and the TVS group seems in it for the long-term.