Chennai-based True Value Homes (TVH) is planning to invest around $750 million (Rs 3,450 crore) in various residential projects.
Speaking to reporters here on Thursday, TVH chairman N Ravichandran said the investment would be spread over 5-6 years and involve development of around 10 million sft across south India. The proposed investment will be funded through debt and equity, he added.
These projects would come up at Coimbatore, Tiruchy, Tirupati, Madurai and Kochi.
The company currently has a land bank of 500-600 acres, according to Ravichandran. “In two years, we are planning to raise money through private equity for the projects,” he added.
The company today entered the affordable housing segment with the launch of TVH Svaya at Sriperumbudur. The project on 13 acres would cost around $60 million (Rs 275 crore) and comprise 840 apartments. The flats would be priced between Rs 14 lakh and Rs 23 lakh.