CHENNAI: G Square Group has acquired 5 acres heritage land parcel worth Rs 167 crore in the heart of Madurai from the legacy owners of the TVS Group, marking one of the temple city’s most significant transactions in recent years.
The land was formerly owned by the late TV Sundaram Iyengar, the visionary founder of the TVS Family Group of Companies, and is believed to be TVS’ first landholding.
The developer acquired the five-acre land parcel for Rs 167 crore. The project allocates 1.63 acres for residential development and the balance 1.37 acres for infrastructure and common amenities.
The project comprises 55 plots in total, including 50 residential plots and 5 commercial plots, catering to both end-users and long-term investors. Residential plots are priced from Rs 15,990 per sqft onwards, translating to Rs 69.64 lakh onwards per cent, while commercial plots are offered from Rs 25,990 per sqft onwards, with pricing starting at Rs 1.13 crore onwards per cent.
The acquisition represents the transition of one of Madurai’s most distinguished legacy properties into a planned modern residential and commercial plotted community, while retaining its deep-rooted association with the temple city’s industrial and economic evolution.
G Square Group has announced the name of the project as G Square Temple View Square (TVS), a premium plotted development in the heart of the city in Madurai, with the project name reflecting the historical association of the land.
Bala Ramajayam, founder-managing director, G Square Group, said, “This acquisition holds deep personal and professional significance for me. My very first commercial land deal was with the TVS Company in 2011, and to now be entrusted with a property of such historical importance is a testament to the trust and enduring relationship we’ve built over the years. ”
This acquisition holds deep personal and professional significance for Bala Ramajayam. His very first commercial land deal was with the TVS Company in 2011