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G Square Group has acquired a 5-acre heritage land parcel in the heart of Madurai from the legacy owners of the TVS Group, marking one of the city's most notable real estate transactions in recent years. The land, originally owned by the late T. V. Sundaram Iyengar, founder of the TVS Group, is believed to be the group's first landholding in Madurai, lending it significant historical and cultural value. The developer plans to transform the site into a premium residential and commercial plotted project named G Square Temple View Square, located near the Periyar Bus Stand and the Meenakshi Amman Temple. Acquired for INR 167 crore, the project will include residential and commercial plots along with infrastructure and common amenities, targeting both end-users and long-term investors.
G Square Group has completed the acquisition of a 5-acre heritage land parcel in Madurai from the legacy owners of the TVS Group, signalling a major transition of one of the city?s most distinguished legacy properties into a modern real estate development. The land was formerly owned by T. V. Sundaram Iyengar, the founder of the TVS Family Group of Companies, and is believed to be the group?s first landholding in Madurai, giving it a unique place in the city?s industrial and economic history. Advertisement
The developer has named the project G Square Temple View Square (TVS), reflecting the historical association of the land with the TVS legacy. The site is located in Periyar, close to the Periyar Bus Stand, and enjoys strong urban connectivity. Its proximity to the Meenakshi Amman Temple, one of Madurai?s most prominent landmarks, adds to the project?s locational appeal.
According to the company, the land was acquired for INR 167 crore. Of the total area, 1.63 acres have been earmarked for residential use, 2 acres for commercial development, and the remaining 1.37 acres for infrastructure and common amenities. The project will comprise 55 plots in total, including 50 residential plots and five commercial plots, catering to a mix of homebuyers and investors.
Residential plots are priced from INR 15,990 per sq ft onwards, translating to around INR 69.64 lakh per cent, while commercial plots are priced from INR 25,990 per sq ft onwards, with rates starting at approximately INR 1.13 crore per cent. The developer said the project?s location provides easy access to educational institutions, colleges and key healthcare facilities within the city.
Commenting on the acquisition, G Square Group?s founder and managing director Bala Ramajayam said the deal carried both personal and professional significance, noting his first commercial land transaction was with the TVS Group in 2011. He added that the project seeks to balance respect for the site?s historical legacy with the creation of long-term value for homebuyers.
G Square Group follows a no-cash transaction policy and emphasises clear documentation and transparency. Through its Build Assist service, the company also offers post-purchase construction support, guiding customers from plot acquisition to home completion.
Source - PTI
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