ASK Property Investment Advisors, the real estate private equity unit of ASK Group, and TVS Emerald Haven Realty Ltd have set up an investment platform to back residential projects of the property development arm of TVS Motor Company.
The association will see an investment of Rs 400 crores.
Amit Bhagat, Managing Director and CEO at ASK Property, said that the affordable and mid- segment market offers huge growth potential and that the collaboration leverages each partner’s strength.
TVS Emerald builds houses for mid-income groups and has delivered one project in Chennai. It is developing five more projects in and around the city and plans to expand to Bangalore in the near future.
ASK Property raised funds from both offshore and domestic investors across funds.
Platform deals have become the norm for global and domestic investors to seal deals in the Indian real estate market. A platform transaction allows an investors to back a bunch of projects in one go, saving time on multiple rounds of due diligence.