TVS, ASK join hands for realty fund

ASK Property Investment Advisors recently raised Rs 535 crore for its seventh real estate fund

TVS Emerald, the real estate arm of TVS Motor Company and ASK Property Investment Advisors (ASK PIA) have partnered to set up Rs 400 crore real estate investment platform. ASK PIA is the real estate private equity manager of ASK Group.

Both partners will jointly infuse money. The capital raised will be invested in affordable mid-income housing projects, ASK said in a release on Monday.

Through this platform the partnership has also announced its first investment in Porur, Chennai.  The project is being developed on a 10 acre land parcel having 5,48,000 sq ft of saleable area with an investment