TVS Emerald, the real estate arm of the multi-billion-dollar TVS Group, shattered real estate records in Chennai when it sold homes worth Rs 438 crore in just one day. On Sunday (July 16), the company managed to sell 448 units of its latest project, 'Elements', on the day of the launch, which data reveals is the best a developer has managed to sell over the course of a single day, in Chennai.
According to data from PropEquity, the previous high was registered by Casagrand Majestica, where the developer sold apartments worth Rs 222.6 crore in May. In April last year, The Peak by Baashyaam Group managed to notch up sales worth Rs 195.13 crore. What makes TVS Emerald's record even more profound is that the developer nearly double the previous record on the day of the launch, itself.
Spread over 6.56 acres, TVS Emerald Elements is located in Kovilambakkam, a South-Western suburb of Chennai. Comprising 820 residential units across 2 and 3 BHK specifications, the project has homes ranging from 934 to 1,653 square feet, complemented with the usual amenities like a pool, gym and a clubhouse.
"The triumph of this milestone achievement reinforces the confidence homebuyers have in us," said Sriram Iyer, Director and CEO at TVS Emerald, "In the aftermath of the pandemic, people are seeking homes that can transform their everyday living experiences and we have consistently met this demand."
Sriram's take on prospective homebuyers closing deals post-pandemic has merit. In March, DLF hit the headlines when it announced sales of nearly 1,137 apartments worth Rs 8,000 crore at its recent launch, DLF Arbour in Gurugram, across the span of three days.
"The Arbour will undoubtedly be one of the most coveted and landmark developments in Gurugram," said Aakash Ohri, Group Executive Director and Chief Business Officer at DLF, in March.
TVS' home-sale high In Chennai comes as no surprise. The city has seen consistent growth in residential sales, most recently registering a 3 percent rise year-on-year, in the first half of 2023. A total of 7,150 were sold between January and June, in comparison to 6,951 homes in the same period, last year.
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