Leading auto and two-wheeler developers TVS Motors has entered into the real estate business. TVS group has launched their first residential project in Chennai.
By launching their first residential project in Chennai, TVS Motors; a leading auto and two-wheeler developers, has entered real estate business. As their stepping stone they have developed a residential project in Chennai. However this has been considered as one of the major expansion policies of the group.
Emerald Haven Realty, the auto-major promoted real estate group, has already launched its housing project in Chennai. Since their establishment, over four decades back; the group has not extended to any other major business sectors other than automobile industry.
Green Hills, the first project of TVS group, is launched at Perungalathur, a suburb in South Chennai. The project offers each housing unit; there are total 448 units, at prices ranging from Rs.25 lakh to Rs.45 lakh. Yet the actual financial details are unavailable.
However Mr. Venu Srinivasan, CMD of TVS Motors, could not be contacted for any comment on the group’s entry into the real estate sector. TVS Group’s decision to enter real estate sector is seen as something significant. Over the four decades the group has been concentrating only on automobile business producing two –wheeler and motorcycles.
In experts’ opinion TVS Group’s entry into real estate business is for longer periods. Residential market is one of the most promising businesses in India. Further there is no chance for the real estate sector to fade away. According to a property consultant real estate business could be a turning point to the group.
It has to be noted that in previous years many massive entrepreneurs like Ashok Leyland, India Cements, Sanmar Group, etc. have entered into realty business. However they remained unsuccessful and left the field soon to concentrate on their core businesses.
The current business has become highly competitive and only highly competent people can remain successful in their business. So it is a game which we have to wait and watch. Realty experts wait to see how TVS play the game along with their core business.
