Tata Realty, the real estate arm of the Tata Group, announced on July 8 that it has obtained an Rs 825 crore loan from the International Finance Corporation (IFC) for its Ramanujan Intellion Park in Chennai.
This funding is intended for the strategic refinancing of the business park and aligns with Tata Realty’s commitment to enhancing sustainability and promoting green commercial spaces in India.
Ramanujan Intellion Park spans 4.67 million square feet and has achieved significant environmental milestones. The park has fully reduced emissions through renewable energy and carbon offsets, saved more than 20 percent on water and embodied energy in materials, and attained over 42 percent energy savings on-site.
IFC’s investment underscores the critical role of climate-focused financing in driving environmental progress. Imad N. Fakhoury, IFC’s Regional Director for South Asia, emphasized that this support will enable Tata Realty to expand its portfolio of net zero carbon buildings.
Tata Realty and Infrastructure Limited has developed approximately 17.6 million square feet of commercial projects and currently has around 16.7 million square feet under development and planning.
The company plans to launch 9 million square feet of residential real estate inventory, targeting a topline of Rs 11,000 crore over the next four years. This initiative will focus 70 percent on premium luxury projects, followed by aspirational affordable and mid-segment projects, as previously stated by Sanjay Dutt, Managing Director and Chief Executive Officer of Tata Realty.
Additionally, Tata Realty is preparing to launch a 36-villa project in the Maldives and has a mixed-use project under planning in Sri Lanka.
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By Proptechbuzz
By Ravi Kumar