G Square Group has acquired a five-acre parcel in Madurai from legacy owners of the TVS Group. The land was once held by TVS founder T.V. Sundaram Iyengar and is being developed as a 55-plot project, Business Line reported in February 2026.
The report put the deal at ₹167 crore and said the land is believed to be the TVS group's first landholding.
What the project offers
G Square Temple View Square will be located in Periyar, near Periyar Bus Stand and the Meenakshi Amman Temple, Business Line reported.
The project will have 55 plots: 50 residential and five commercial. Of the land, 1.63 acres is set aside for residential use and two acres for commercial use. The remaining area is for infrastructure and amenities, Business Line reported.
Residential plots start at ₹15,990 per sq ft, or ₹69.64 lakh per cent, according to the report. Commercial plots start at ₹25,990 per sq ft, or ₹1.13 crore per cent.
Who it affects
The plots are priced for buyers seeking a central address close to the temple, colleges and hospitals, rather than land on the city's edge. The commercial plots are aimed at businesses seeking a location near the bus stand.
The project also brings a large parcel to market in the old city core, where such land rarely comes up for sale.
Madurai asking rates
Asking prices on PropertyWala put residential land across Madurai at about ₹870 per sq ft (2025 Q3 to 2026 Q4).1 Independent houses for sale averaged about ₹3,165 per sq ft (2025 Q2 to 2026 Q1).
The new plots' starting rate is many times the city-wide land figure, which covers a wide range of locations.
Listings in the city are mostly independent houses, at 44%, and residential land, at 39%. Commercial land makes up 6%, agricultural land 4% and apartments 3%.
Projects in the city include ready developments. G Square Temple View Square adds a central plotted offering to the mix.
What to watch
Business Line did not provide a launch or handover timetable in the material reviewed. Buyers will be watching for the start of sales and how the commercial plots are priced against central Madurai rates.
Readers can follow land and house listings on the Madurai page on PropertyWala.
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Asking prices on PropertyWala listings, not the prices at which land and houses in Madurai sold.↩