India, Jan. 23 -- TVS Emerald, the real estate arm of the TVS Group, has secured a Rs.425 crore investment from the International Finance Corporation (IFC) to develop housing projects in Chennai and Bengaluru. A part of the investment will be used to develop over 4,500 premium apartments, the company said in a statement.

The developer said a portion of the investment will be used to develop two large residential projects slated for launch in FY27, one along the Pallavaram-Thoraipakkam Radial Road (PTR) corridor in Chennai, with an investment of Rs.136 crore, and another at Sathanur in Bengaluru, backed by Rs.103 crore. The remaining funds will be earmarked for additional residential developments planned over the next two years, it said....