Tata Group’s real estate development subsidiary, Tata Realty and Infrastructure Ltd (TRIL), announced securing a loan of Rs 825 crore from the International Finance Corporation (IFC) for its Ramanujan Intellion Park in Chennai.

Tata Realty plans to use this funding strategically for refinancing of the business park and also to its commitment towards advancing its sustainability efforts to elevate the standards of green commercial space across the country. 

The company claims that Ramanujan Intellion Park, which spans 4.67 million square feet, has entirely eliminated emissions through the use of renewable energy sources or carbon offsets. Additionally, it has reduced energy use on-site by over 42%, water consumption by over 20%, and material embodied energy by over 20%.

Imad N. Fakhoury, IFC’s Regional Director for South Asia said, “IFC’s investment highlights the pivotal impact that climate-focused financing has in driving substantial environmental progress and will support TATA Realty to expand its portfolio of net zero carbon buildings.”

TATA Realty and Infrastructure Limited has so far created commercial projects totaling about 17.6 million square feet, while another 16.7 million square feet are still in the planning and development stages.

Earlier, Sanjay Dutt, Managing Director and Chief Executive Office of Tata Realty, said that they are also planning to launch 9 million square feet of residential real estate inventory with the aim of generating Rs 11,000 crore in the next four years. 70% of the projects will be premium luxury projects, and the remaining will be affordable and mid-segment residential projects. 

The company is also planning to launch a 36-villa project in the Maldives and has planned a mixed-use project in Sri Lanka, which is still in the planning stage.