True Value Homes (TVH), a premier engineering, construction, and project management company, is planning to promote high-end residential apartments with a minimum entry price of Rs. 5 crore on a premium parcel of land in Kotturpuram (Chennai). The project will be on 3.6 acres which was bought over recently by the company. Most of the apartments will have personal gyms and swimming pools. The apartments will range from 2,500 sq. ft. and above. The project will be launched soon and will be completed by the last quarter of 2012, says a company release.
The land situated on River View Avenue in Kotturpuram was in the offing for about two years now with developers from across India competing for it. The landowners evaluated the execution skills and local market knowledge of the developers before taking a decision on selling it to TVH. The price was pegged at Rs. 120 crore and TVH paid a premium on it.
TVH has initiated discussions with an internationally acclaimed architect of India, based in New Delhi for designing the project. TVH would develop this project with its own in-house subsidiary “Project Management Consultancy” (Morpheus PMC) team and Construction (TAVAS Construction) team.
TVH is at present executing luxury apartment complex TVH Ouranya Bay in Old Mahabalipuram Road, the tallest luxury apartment complex in the city. It is also developing TVH Lumbini Square, a 500-apartment project in Purasawalkam.