– Tata Realty secures Rs 825 crore loan from IFC for Ramanujan Intellion Park in Chennai

Tata Realty, a real estate development arm of the Tata Group, has secured a significant Rs 825 crore loan from the International Finance Corporation (IFC) for its Ramanujan Intellion Park in Chennai. This funding is specifically earmarked for the strategic refinancing of the business park and is part of Tata Realty’s commitment to advancing sustainability efforts and elevating the standard of green commercial spaces across India.

The Ramanujan Intellion Park, spanning an impressive 4.67 million sq ft, has achieved a remarkable feat of complete reduction of emissions through renewables or carbon offsets. Additionally, the park has saved more than 20 percent on water and embodied energy in materials, while achieving over 42 percent energy savings on-site.

Imad N. Fakhoury, IFC’s Regional Director for South Asia, emphasized the pivotal impact of climate-focused financing in driving substantial environmental progress. He mentioned that IFC’s investment will support Tata Realty in expanding its portfolio of net-zero carbon buildings.

Tata Realty and Infrastructure Limited has a track record of developing about 17.6 million sq ft of commercial projects, with approximately 16.7 million sq ft of projects under development and planning. The company has ambitious plans to launch 9 million sq ft of residential real estate inventory in the next four years, with a focus on premium luxury projects, followed by aspirational affordable and mid-segment offerings.

Moreover, Tata Realty is set to launch a 36-villa project in the Maldives and has a mixed-use project in Sri Lanka in the planning stage. This strategic move aligns with the company’s vision to expand its presence and offerings in the real estate market.

The loan secured from IFC underscores Tata Realty’s commitment to sustainability and innovation in the real estate sector, setting a benchmark for green commercial spaces in India.