SBI Invested 714 Crore In World Trade Center Project In Gurugram - ThePropzy

TCG Real Estate, a prominent real estate developer, has secured substantial financial backing of Rs 714 crore from the State Bank of India (SBI) for its ambitious World Trade Center project in Gurugram. This funding, as per records obtained by real estate data analytics firm CRE Matrix, marks a significant milestone in developing this large-scale commercial hub.

The upcoming World Trade Center business park is strategically situated off NH-8 and Sohna Road in Gurugram, a prime commercial location known for its connectivity and accessibility. The project is designed to encompass an expansive one million square feet of developable land, offering state-of-the-art infrastructure to cater to the needs of global businesses and enterprises. With the infusion of Rs 714 crore from SBI, the development is set to progress with enhanced financial stability and a well-structured execution plan.

SBI Extends Rs 714 Crore Loan for the Project  

According to the records, the financial assistance has been provided in the form of a loan from SBI, structured with a tenure of 72 months (six years). The loan is subject to an annual interest rate of 9.6%, ensuring a steady financial arrangement for the execution of the project.

Further details from the documents reveal that the sanctioned loan of Rs 714 crore has been extended to Energetic Construction Private Limited, the entity responsible for developing the World Trade Center in Gurugram. This company is promoted by TCG Urban Infrastructure Holding Pvt. Ltd., a subsidiary of TCG Real Estate. Additionally, as per official documentation, the deed of hypothecation was executed on March 28, 2024, between Energetic Construction Private Limited and SBICAP Trustee Company Limited, formalizing the financial arrangement and securing the required assets.

A Landmark Commercial Destination in the Making  

The World Trade Center in Gurugram is envisioned as a premium business hub, featuring four high-rise towers designed for office and retail use. The expansive development spans 7.94 acres and boasts a total leasable area of 10,13,168 square feet. Within this, approximately 9.4 lakh square feet will be dedicated to office spaces, while an additional 72,407 square feet will be allocated for retail establishments, creating a vibrant commercial ecosystem.

The project aims to set new benchmarks in office infrastructure, offering world-class amenities, modern architectural designs, and a dynamic workspace environment. The estimated total cost of the development stands at Rs 1211.86 crore, reflecting the scale and premium quality of the undertaking. The commercial operations of the World Trade Center are expected to commence in October 2027, positioning it as a key business destination in the region.

Structured Timeline and Loan Repayment Terms  

As per the official records, the construction of the World Trade Center is planned over a structured 48-month timeline, allowing for phased development and execution. The loan agreement includes a 12-month moratorium period before repayment begins. 

In terms of financial commitments, strict penalties have been outlined for any delays or irregularities in repayment. If a payment is delayed for up to sixty days, a penalty interest of 2% per annum will be charged. In cases where the delay extends beyond sixty days, the penalty will increase to 5% per annum on the outstanding amount for the duration of the irregularity.

Future Prospects and Impact  

With its prime location, large-scale development, and world-class facilities, the World Trade Center in Gurugram is expected to become a significant commercial landmark, attracting multinational corporations, enterprises, and retail brands. While neither SBI nor TCG Real Estate has issued an official statement regarding the funding, further details may emerge as the project progresses. 

As construction moves forward, this ambitious development is set to transform the commercial real estate landscape of Gurugram, reinforcing the city’s reputation as a thriving business hub.

For More Information 

Visit: www.thepropzy.com

Location: Noida, Uttar Pradesh, India

Comments

Post a Comment

Popular posts from this blog

Amrapali Centurian Park Low Rise - The Perfect Blend Of Luxury By ThePropzy

Image
Amrapali Centurian Park Low Rise , located in the bustling area of Noida Extension, sets a new standard for luxurious living by offering exquisite 3-BHK and 4-BHK apartments that seamlessly blend modern sophistication with the charm of low-rise architecture. Designed meticulously to cater to the needs of discerning residents, this residential project stands out with its thoughtfully planned layouts and a plethora of world-class amenities.  Each apartment in Amrapali Centurian Park exudes a sense of elegance and spaciousness, crafted to provide a lifestyle marked by comfort and convenience. The low-rise architecture not only enhances aesthetic appeal but also ensures a sense of community, privacy, and tranquility amidst the urban hustle. Residents can revel in the lush green surroundings, take a stroll along tree-lined avenues, or unwind in beautifully landscaped gardens that offer a perfect escape from the daily grind. The development is equipped with a range of top-notch faciliti...
Read more

Discover CRC Joyous Greater Noida West - ThePropzy

Image
In the rapidly developing area of Greater Noida West, a new gem has emerged in the residential real estate sector CRC Joyous. This residential complex promises to deliver an elevated lifestyle to its residents, offering a perfect blend of comfort, luxury, and modernity. CRC Joyous might be the ideal option if you're considering investing in real estate or looking for a new home. Let's explore what makes this project stand out. CRC Joyous is a thoughtfully designed residential community meticulously planned to offer a contemporary lifestyle for families and individuals alike. The project stands out due to its well-appointed amenities, strategic location, and cutting-edge architecture. With its spacious apartments, beautiful landscapes, and state-of-the-art facilities, CRC Joyous is poised to become a landmark in Greater Noida West. Greater Noida West, also known as Noida Extension, is one of the most sought-after locations for residential projects due to its prime location and ...
Read more

Exceptional Properties Exceptional Clients - ThePropzy Real Estates Services

Image
At Thepropzy, we recognize that buying or selling a home is not just a transaction; it’s a pivotal life event that carries significant emotional and financial impact. We are deeply committed to providing unparalleled service, driven by a team of real estate enthusiasts who are eager to assist you throughout this important journey. Why Choose Thepropzy? Expert Guidance Our highly skilled agents bring years of experience and in-depth knowledge of the local real estate market. They are equipped to offer you comprehensive insights, helping you navigate through every aspect of the buying or selling process. From market trends to neighborhood specifics, our agents are prepared to arm you with the necessary information to make informed and confident decisions. Personalized Service At Thepropzy, we believe in delivering a service that is as unique as you are. Our tailored approach ensures that whether you are a first-time homebuyer, an investor seeking new opportunities, or a homeowner ready t...
Read more