INSUBCONTINENT EXCLUSIVE:
Tata Realty will invest Rs 5,000 crore to build IT park in Navi MumbaiTata group firm Tata Realty and Infrastructure Limited
centre spaces to rise in coming years.Tata Realty and Infrastructure Ltd Managing Director (MD) and Chief Executive Officer (CEO) Sanjay
Dutt said that the company will develop 7 million square feet of area in this 'Grade-A' IT park project 'Intellion Park' in a phased manner
investment firm Actis."We have 47.1 acre of land located in Ghansoli, Navi Mumbai
On this land parcel, we are doing 7 million square feet of development, predominantly IT space and data centres with some complementary
retail and non-IT office space," Mr Dutt told PTI."The total investment on this project is Rs 5,000 crore
This is Tata Realty's largest single investment in office real estate," he highlighted.Once the project is completed, more than 70,000
people will be able to work in the IT campus, according to Mr Dutt.Actis has been roped in as investment partner in this project
This is the third such partnership with Actis
"Tata Realty is a majority shareholder in this IT park project," Mr Dutt said but did not disclose the amount invested by the Actis
group.The total investment will be funded through equity and debt
The company has already started pre-leasing process of this 5 lakh square feet area
tech companies to thrive in, but also be a buzzing social place for their talent, strengthening these companies' ability to attract and
