TVS Emerald, a real estate developer, has purchased a 12-acre land parcel on Radial Road or Pallavaram-Thoraipakkam Road in Chennai. The acquisition, comes with a development potential of 2.5 million sq ft and a revenue potential of ₹2,800 crore and is one of the largest real estate deals in Chennai in the last two years.

This marks the third acquisition of land by TVS Emerald in FY25 and follows the acquisition of a four-acre land parcel earlier this year in Padur, Chennai, and a four-acre parcel in Thanisandra, Bengaluru.

On December 18, TVS Emerald, a subsidiary of TVS Holdings (formerly known as Sundaram-Clayton), announced acquisition of Radial (Phase II) IT Park Pvt Ltd and Radial (Phase III) IT Park Pvt Ltd for a total consideration of ₹576 crore.

Expand footprint

In a press release, Sriram Iyer, Director & CEO, TVS Emerald, described the move as a “landmark acquisition” and said it would help expand the company’s footprint in Chennai.

This acquisition, which marks TVS Emerald’s third venture on Radial Road, follows the success of TVS Emerald Elements – a themed property project that achieved single-day sales of ₹438 crore in FY24 and TVS Emerald Lighthouse, two prominent residential development in the micro-market, the release said.

TVS Emerald has delivered around 3.6 million sq ft of residential developments in Chennai and has about 8.6 million sq ft of under-development projects, the release said.