True Value Homes India private Ltd. (TVH), an engineering, construction and project management firm, has lined up a slew of housing projects across the South involving a total investment of $750 million over the next three to four years.
As a first step in this exercise, it has announced the launch of its TVH Svaya, a value engineered homes project. With a project cost of $60 million, the 13- acre projects comprises of 840 apartments of 555 square feet to-1085 square feet in the price range of Rs.14 lakhs to Rs.23.00 lakhs.
TVH Svaya has come up in Sriperumbudur on Kundruthur High Road that adjoins the SIPCOT Industrial Park. It is aimed at middle class family earning a cumulative income of Rs.5 lakh per annum. The apartments would be ready for occupation within six months of booking. TVH Svaya Chennai is scheduled to be completed by September.
Similar projects would be launched in the cities of Kochi, Coimbatore, Trichy, Thirupathi, Madurai and multiple locations in Chennai in the next With a project cost of $60 million, the 13- acre projects comprises of 840 apartments of 555 square feet to-1085 square feet in the price range of Rs.14 lakhs to Rs.23.00 lakhs.
TVH Svaya has come up in Sriperumbudur on Kundruthur High Road that adjoins the SIPCOT Industrial Park. It is aimed at middle class family earning a cumulative income of Rs.5 lakh per annum. The apartments would be ready for occupation within six months of booking. TVH Svaya Chennai is scheduled to be completed by September.
Similar projects would be launched in the cities of Kochi, Coimbatore, Trichy, Thirupathi, Madurai and multiple locations in Chennai in the next three months. According to Nakshatra Roy, Director, True Value Homes, the company would go in for project finance from lending institutions to part-fund these projects. For its just-announced project, the company had obtained project fiancé from Punjab National Bank (PNB).
He indicated that the company would rely on a combination of sources - internal accruals, bank funding and private equity – to fund the proposed projects involving $750 million. All these would go fully on stream in three to four years, he added.
