India’s leading housing finance company, HDFC has extended Rs 200 crore funding to realty developer DivyaSree Infrastructure Projects for constructing a part of its commercial project Technopolis in Bengaluru, said two persons Known of the development.
The Non-Banking Financial Company (NBFC) will be charging interest below 11 per cent for the loan with a tenure period of 48 months. It will be serviced through monthly interest payment during the period. The loan is expected to be repaid in one single shot of Rs 200 crore at the end of the tenure period from the date of first disbursement or earlier at the option which will be exercised by HDFC. 
The fund raised will be used by the developer for constructing nearly around 1 million sq ft development which will spread over 10 floors of the Technopolis project. The office building has been designed and constructed in such a way to meet the requirements of a specific customer. 
“As part of the agreement, the borrower has created an exclusive mortgage and charge over the said property in favor of HDFC,” said one of the persons cited above.
The Technopolis project is a 68-acre mixed-use project with a total development of 5.5 million sq ft which includes residential villas, luxury apartments, and under construction commercial office spaces. The office spaces are being developed as built-to-suit spaces for tenants like Xerox, Thomson Reuters, Deloitte and the Landmark Group.