In a recent development in the country’s real estate sector, ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group and Emerald Haven Realty Limited (TVS Emerald), the real estate arm of TVS Motor Company have joined hands to set up Rs.400 crore real estate investment platforms. The funds will be invested in multiple affordable mid-segment projects. Amit Bhagat, MD & CEO, ASK PIA said, elaborating that the players strongly believe that affordable and mid-segment market offers huge growth potential and this is in sync with the TVS Emerald‘s core purpose of providing better living space to the urban middle class. While R. Chandramouli, President & CEO, TVS Emerald said, reiterating that their endeavor is always to delight customer by fulfilling aspiration of the urban middle class in their quest for a better living space. Under the partnership, the companies are making first investment in developing a 10 acre land parcel having 5,48,000 sqft of saleable area with the equity investment of Rs.83 crore in Porur area of Chennai.
