MUMBAI | BENGALURU: Tata Realty & Infrastructure has obtained a ₹825 crore loan from the International Finance Corporation (IFC), a member of the World Bank Group. This loan is for refinancing the Ramanujan Intellion Park in Chennai.
Commitment to Sustainability
This funding is part of Tata Realty’s commitment to enhance its sustainability initiatives and improve green commercial spaces across India. The money will be used to integrate advanced sustainable technologies and practices into this flagship property, which has about 4.67 million square feet of IT/ITES commercial office space.
“Business parks are crucial for making the real estate sector greener,” said Imad N. Fakhoury, IFC’s Regional Director for South Asia. “IFC’s investment highlights the important role of climate-focused financing in driving substantial environmental progress and will support Tata Realty in expanding its portfolio of net-zero carbon buildings.”
Strategic Location
Strategically located along Old Mahabalipuram Road (IT Expressway) in Taramani, Chennai, the 25.27-acre Ramanujan Intellion Park includes both a Special Economic Zone (SEZ) processing area and a non-processing zone.
“The financing from IFC is a strategic investment in our efforts to enhance the sustainability and climate resilience of Ramanujan Intellion Park,” said Sanjay Dutt, MD & CEO of Tata Realty.
High Occupancy and Additional Features
This fully operational IT park accommodates 40,000 to 60,000 professionals across its six buildings daily, showcasing a high occupancy rate. Additionally, the park features the Taj Wellington Mews Hotel, which offers 112 serviced apartments and a 1,500-seat convention center in the non-processing zone, operated by Taj Hotels, a subsidiary of Indian Hotels Company Limited (IHCL).
Tata Realty’s Portfolio
Tata Realty & Infrastructure has over 50 projects across 15 cities. To date, it has developed 17.6 million square feet of commercial projects and has 16.7 million square feet of projects under development and planning.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
