TVS Motor arm, ASK Property tie up for Rs 400-cr realty fund

TVS Emerald, the real estate arm of TVS Motor Company, and ASK Property Investment Advisors (ASK PIA), the real estate private equity manager of ASK Group, have partnered to set up a Rs 400-crore real estate investment platform.

Both of the partners would jointly infuse the money, and the capital raised would be invested in affordable mid-income housing projects, ASK said in a release on Monday.

Through this platform, the partnership has also announced its first investment in Porur in Chennai. The project is being developed on a 10-acre land parcel having 5,48,000 sq ft of saleable area, with an investment of