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Real Estate Developer Secures rs 825 Crore Funding to Refinance IT Park in Chennai

Jul 10 2024

Real Estate Developer Secures rs 825 Crore Funding to Refinance IT Park in Chennai

A leading real estate developer has secured a loan of ?825 crore from an international financial institution to refinance a large IT park located in Taramani, Chennai.

The IT park has achieved full emission reduction through renewable energy or carbon offsets, along with saving more than 20% on water usage and embodied energy in materials, and achieving over 42% on-site energy savings.

According to the developer, the financing will help further enhance the sustainability and climate resilience of the project.

The IT park, spread across 25.27 acres, includes both a special economic zone (SEZ) processing area and a non-processing zone, with a total leasable area of approximately 4.67 million square feet of commercial office space.

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