True Value Homes to invest Rs 3,500 crore in TN, Kerala projects

News Posted - 2010-02-22

Engineering, construction and project management company True Value Homes India (TVH) to invest around $750 million (Rs 3,500-crore) in the next five years as part of its 'value homes' project in Tamil Nadu and Kerala, a top official of the company said here today.

"With an investment of $750 million on various projects under the 'value homes' concept, the company will set up apartments and independent villas in Tamil Nadu and Kerala. These projects are expected to come up over a five-year period," TVH India Chairman N Ravichandran told reporters here.

In Tamil Nadu, the company has already acquired land in Tiruchirapalli, Coimbatore, where TVH would invest Rs 150 crore each in two years to set up around 150 independent villas, he said.

In Cochin, the company would set up apartments near Mata Amritanandamayi hospital at a cost of Rs 250 crore, he said.

On their upcoming projects near the Oragadam-Chennai belt, TVH Director (Corporate Operations) Nakshatra Roy said that they would invest about Rs 250 crore on each of the projects in Manivakkam, Nallambakkam, Thiruporur, respectively in the next three years to build apartments.

Roy also announced the company's dream project "TVH Svaya" of around $60 million, near Sriperumbudur-SIPCOT industrial park on the outskirts of Chennai.

Around 840 apartments will come up on 13 acres of land near Industrial park, he said, adding that the apartments would be ready for occupation within six months of booking.

Source: Business Standard 18/2/10