Published & Updated as on - 2010-02-22
Engineering, construction and project management
company True Value Homes India (TVH) to invest around $750 million (Rs
3,500-crore) in the next five years as part of its 'value homes' project in
Tamil Nadu and Kerala, a top official of the company said here today.
"With an investment of
$750 million on various projects under the 'value homes' concept, the company
will set up apartments and independent villas in Tamil Nadu and Kerala. These
projects are expected to come up over a five-year period," TVH India
Chairman N Ravichandran told reporters here.
In
Tamil Nadu, the company has already acquired land in Tiruchirapalli,
Coimbatore, where TVH would invest Rs 150 crore each in two years to set up
around 150 independent villas, he said.
In
Cochin, the company would set up apartments near Mata Amritanandamayi hospital
at a cost of Rs 250 crore, he said.
On
their upcoming projects near the Oragadam-Chennai belt, TVH Director (Corporate
Operations) Nakshatra Roy said that they would invest about Rs 250 crore on
each of the projects in Manivakkam, Nallambakkam, Thiruporur, respectively in
the next three years to build apartments.
Roy
also announced the company's dream project "TVH Svaya" of around $60
million, near Sriperumbudur-SIPCOT industrial park on the outskirts of Chennai.
Around 840 apartments will
come up on 13 acres of land near Industrial park, he said, adding that the
apartments would be ready for occupation within six months of booking.
Source: Business Standard 18/2/10
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