Tata Realty Secures Rs 825 Crore for Chennai Green Project

Tata Realty has secured a substantial Rs 825 crore loan from the International Finance Corporation (IFC) to refinance its landmark green commercial project, Ramanujan Intellion Park in Chennai, Tamil Nadu. This strategic funding highlights Tata Realty's commitment to sustainable real estate and enhancing eco-friendly commercial spaces across India.

Ramanujan Intellion Park, located along Old Mahabalipuram Road (IT Expressway) in Taramani, Chennai, spans 25.27 acres and includes both a special economic zone (SEZ) and a non-processing zone. This green project boasts significant sustainability features, achieving a complete reduction of emissions through renewables or carbon offsets, over 42 percent energy savings onsite, and more than 20 percent reduction in water usage and embodied energy in materials.

The IT park also features the Taj Wellington Mews Hotel facility, offering 112 serviced apartments and a 1,500-seater convention center in the non-processing zone. With a total leasable area of about 4.67 million square feet of IT/ITES commercial office spaces, Ramanujan Intellion Park stands as a beacon of green commercial development.

This refinancing initiative is part of Tata Realty's broader sustainability goals, aiming to integrate advanced sustainable technologies and practices at its flagship assets. Tata Realty and Infrastructure, a 100 percent subsidiary of Tata Sons, has an extensive portfolio with over 50 projects across 15 cities, developing around 17.6 million square feet of commercial projects and 16.7 million square feet of projects under development.

As Tata Realty continues to lead in sustainable real estate development, this significant loan from IFC not only supports their green initiatives but also sets a new standard for eco-friendly commercial spaces in India.

News by Rahul Yelligetti