Tata Realty To Invest ₹ 5,000 Crore For IT Park Project In Navi Mumbai


Tata group firm Tata Realty and Infrastructure Limited announced an investment of ₹ 5,000 crore to develop a premium IT park project in Navi Mumbai

Tata group firm Tata Realty and Infrastructure Limited announced an investment of ₹ 5,000 crore to develop a premium IT park project in Navi Mumbai as it expects demand for office and data 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 over the next eight years, according to news agency PTI.

He added that the company will develop this project in partnership with UK-based 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 ₹ 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.

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