An investment of Rs.100 crore was announced by HIREF-HDFC International Realty Fund in True Value Homes (TVH) on 16th October 2015 . HIREF-HDFC has extended support to the upcoming Titanium City project by True Value Homes developers at Manivakkam, West Tambaram near Chennai. It has picked up 26 per cent equity in a special purpose vehicle called Tharendra Infrastructure.
K.G. Krishnamurthy, HDFC Managing Director & CEO said, “It is their second investment in plot-layout. The first one was made in Pune project. We get involved in these projects right from land acquisition stage. Out of the planned offshore investment of $350 million in the second fund, we have already committed $320 million in various projects spread across New Delhi, Pune and Mumbai.”
N. Ravichandran, True Value Homes owner said, “The new township will be developed in four phases, with the first phase set to have 25 acres of plotted development. The next three phases will see the launch of row houses, villas, apartments and commercial developments.” He further added that, “In the first phase, plots of different dimensions are offered at a price ranging from Rs.2,400 to Rs.3,000 sq.ft. It was expected to complete all the four phases in five years. The property developer has already obtained necessary clearances.”
About the company- True Value Homes is a prominent name in the real estate sector widely known for its standards of quality and excellence. It is an ISO 9001:2000 & ISO 14001:2004 Certified Company and a member of the US Green Building Council since 2007. TVH real estate is emerging as one of the leading realty entities with over 7.1 million sq.ft. of constructed residential and commercial space, 4.1 million sq.ft. of projects under construction and 12 million sq.ft. of projects in pipeline. Since its inception in the year 1997, the company has achieved considerable success providing quality dwellings to the customers.