Introduction

Tamil Nadu Shelter Fund (TNSF) has invested ₹95 crore in an affordable housing project by Vijay Raja Homes Private Limited. The investment will support the construction and development of ‘VRX 360’, a 2700 unit affordable housing project in Thirumazhisai, a growing suburb in western Chennai.

Championing Affordable Luxury

Ashwin Chendilnathan, Joint Managing Director of Vijay Raja Homes Private Limited, reaffirmed his company’s commitment to redefining affordable housing. “Vijay Raja is dedicated to creating projects that offer remarkable luxury yet remain highly affordable for all walks of life. The affordable segment is our key focus, and we strongly support the Government’s vision of ‘Housing for All.’ In an industry where ‘affordable luxury’ is often considered an oxymoron, we take pride in redefining the concept,” he said.

ESG-Compliant Housing

The ₹95 crore investment in VRX 360 comes from TNSF, a Category I (Social) Alternative Investment Fund (AIF) backed by global investors, including the World Bank. The fund focuses on Environmental, Social, and Governance (ESG) compliant housing projects that provide commercial returns while making a social impact.

This marks the first time the World Bank has invested in an innovative financial vehicle to support quality affordable housing by private developers, including housing for industrial workers, working women’s hostels, and assisted living facilities for senior citizens and disabled individuals.

Strategic Location with Promising Growth

Mr. Ashwin Chendilnathan also emphasized the strategic location of the VRX 360 project. “Thirumazhisai offers excellent connectivity to Chennai via the Outer Ring Road and industrial corridors along NH4. The upcoming Phase II of the Chennai Metro to Poonamallee will further enhance infrastructure, making this micro-market an attractive destination for affordable housing,” he noted.

This prime location makes VRX 360 an ideal choice for: First-time homebuyers looking for affordable yet premium housing, industrial workers seeking homes close to employment hubs and, families and professionals wanting a well-connected, comfortable lifestyle.

Conclusion

With VRX 360, Mr. Ashwin Chendilnathan and his team at Vijay Raja Homes are taking another bold step toward making homeownership possible for everyone. The ₹95 crore investment from TNSF is a testament to their vision of creating affordable, high-quality homes that redefine urban living. For those looking for a dream home that blends affordability with modern comforts, VRX 360 is set to be a landmark project in Chennai's real estate landscape.