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PRESS RELEASE

IVRCL Assets & Holdings Ltd. launches 700-acre Golf-centric LivingExperience: AavisaKotak Realty Fund is 28% investor in this township project

Chennai, September 9, 2010:IVRCL Assets & Holdings Limited (IVRCL A&H), the company behind the Chennai Desalination Plant and

the Veeranam Pipeline, today announced the launch of its 700 acre township project Aavisa. Aavisa isthe first private golf-centric community in Chennai and the largest in South India. Aavisa is coming up anhours drive from the Chennai Airport,just off NH4 in Sriperumbudur.

Kotak Realty Fund is a 28% investor in this integrated township, which will offer a championship golfcourse, villas, apartments, work spaces, a hotel, a hospital, a school and retail spaces. Situated in theheart of the electronic and auto manufacturing hub of India, Aavisa is a 700-acre township to live, learnand play in. It is nestled by lakes and will have natural ponds interspersed throughout.

Located just 2kms off NH4 (Chennai Bangalore highway), the project is in proximity to Flextronics andacross from Samsung, Dell, etc. Upon completion, the project will be one of the few LEED Certifiedtownships in India and a cultural-recreation destination on the NH4 highway. It will boast of a popularchampionship golf, golf holiday destination and a golf academy. With over 80000 trees and many more

plants being nourished and many ponds being created, Aavisas landscape architecture will ensurecleaner air and cooler temperatures within. This offering is targeted at individuals and corporates whoprefer to live comfortably amidst greenery or in the vicinity of a golfing destination.

IVRCL A&H expects the project to also appeal to non-resident Indians as well as golf-loving foreigncommunities residing in Southern India, particularly Chennai. Given the mixture of offerings here, itexpects the Aavisa community to be rather multi-cultural. And therefore, this has been called OneWorld Community.

According to Mr. E Sunil Reddy, Managing Director and Vice Chairman, IVRCL Assets & HoldingsLtd., Aavisa is IVRCL A&H's landmark project in Southern India. IVR Hotels & Resorts is a SpecialPurpose Vehicle floated for Aavisa. Aavisa has been designed as a living experience where living andworking with nature are fundamental. We have keenly woven together an inspiration to cherish nature

with aesthetically pleasing urban designs and rigorous standards.

Mr. Reddy further added, Aavisa has an 18-hole Championship Golf Course. Phase I of thedevelopment, which offers villas and homes in a 52-acre gated community called Samten, has beendesigned such that most residents will have a view of the lush turf grass and the beautiful undulatinglandscape.

Samtens 137 luxurious villas range from 2853 sq ft. to 5400 s ft. in size and its 102 beautifulindependent houses come in 1503 sq ft, 1620 sq ft and 1980 sq ft. The Samten layout is DTCPapproved and will become one of the few certified Green Homes projects in India with 8 acresexclusively for landscaping which will create a visual treat. With prices ranging from 30 lakhs to 2.5crores, IVRCL A&H is offering a slice of luxury living across age groups.

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Eco-conscious Aavisa boasts of 235 acres of green spaces within 30 km of well laid out and landscaped

roads; 80,000 trees of various species; lawns that decrease temperatures and increase Oxygen levels.The company is also looking into 10,468 solar-powered street lights.

About IVRCL Assets & Holdings Ltd.IVRCL Assets & Holdings (IVRCL A&H) was first established as the Real Estate Urban Development armof the hugely successful and renowned infrastructure conglomerate, IVRCL Infrastructures and ProjectsLtd. (IVRCL). Previously known as IVR Prime Urban Developers Ltd., it became IVRCL A&H following theamalgamation of IVR Strategic Resources & Services Ltd. and IVRCL Water Infrastructures Ltd. It is nowthe holdings company for the infrastructure assets of IVRCL.

The company behind the Chennai Desalination Plant IVRCL A&H is a fast-growing and listed companywith a strong infrastructure background. Excellence in planning and execution of quality projects have

been IVRCL A&Hs strengths. IVR Hotels & Resorts is a Special Purpose Vehicle floated by IVRCL Assets& Holdings. It is under this entity that Aavisa is being developed.

Today, IVRCL A&H has around 2500 acres in land reserves across Chennai, Hyderabad, Bangalore,Noida and Pune.

About Kotak Realty FundKotak Realty Funds Group (KRFG) is a division of Kotak Investment Advisors Ltd (KIAL) that focuses onReal Estate Investment opportunities. Established in May 2005, it is one of India's first private equityfunds with a focus on real estate and related businesses. The fund actively considers investmentopportunities with developers and projects in residential and commercial sectors amongst others.

For further information contact:Ve Ve Prabhu / Mansi Chouhan9841088961 / 09740997222eruditepr@gmail.com / mansi.chouhan@loweworldwide.com