TVS Emerald acquires 7.18 acre land in Bengaluru's Rayasandra

Chennai, Jun 24 (PTI) Real estate developer TVS Emerald acquired 7.18-acre land parcel in Rayasandra, Bengaluru, with a project revenue potential of over Rs 700 crore, the company said on Tuesday.

Announcing the acquisition of the premium landholding in Rayasandra, the company said this 'strategic' acquisition was a testament to TVS Emerald's commitment to enhancing its presence in Bengaluru's robust real estate space.

"The newly acquired site is strategically positioned near Rayasandra lake, placing it at the heart of one of Bengaluru's most well-established micro-markets," the real estate arm of the TVS group, said in a release here.

The location offered excellent connectivity to major IT hubs, educational institutions, and commercial centres, making it an attractive proposition for a premium residential development.

The acquisition marked the company's seventh significant deal in Bengaluru, demonstrating the company's confidence in the city's real estate growth, the release said.

"We look forward to increasing our presence in Bengaluru with this strategic acquisition in Rayasandra," the company's director and CEO Sriram Iyer, said and added that the site presented an excellent opportunity to develop a premium residential development with its superior location within an established residential micro-market in Bengaluru. PTI JSP ROH