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CONSTRUCTION TATA Realty’s Chennai commercial asset - Ramanujan Intellion Godrej Properties Ltd has acquired two land parcels for a
GODREJ PROPERTIES ACQUIRES TWO LAND PARCELS IN
TATA REALTY’S RAMANUJAN INTELLION PARK BECOMES
INDIA’S FIRST EDGE ZERO CARBON PROJECT
NOIDA FOR `377 CRORE
residential project in Noida from the local authority through an
Park, becomes the first Indian campus to be recognized with
the EDGE Zero Carbon certification by the International Finance
auction for `377 crore. The authority had received five bids for
Corporation (IFC).
two plots and Godrej has emerged as the highest bidder for both.
EDGE’s new Zero Carbon certification allows asset owners to map a
“The Noida authority will earn `377 crore from the auction and
quantified path to zero carbon and attain immediate recognition
in a statement. The acquired plot is spread across 25,000 square
through certification. This recognition comes as India reiterated its
climate goals during the COP 27meeting in Egypt. this will attract investment of `2,000 crore,” Noida authority said
metre and DLF and Golf Green mansions were the other shortlisted
Tata realty’s participation in COP 27 (Egypt Climate Summit) is one bidders but they did not participate in the auction.
of the small steps taken by the company in order to combat the The minimum price for each plot was `188 crore. The developer
global climate emergency. In order to meet the Paris Agreement, will have to make the full payment within three months.
there is a need for every building constructed to meet the Zero Godrej properties has recently entered into an agreement for
Carbon goals by 2050. outright purchase of a 50 acres land parcel in Manor, Palghar.
Ramanujan Intellion Park has achieved a complete reduction of The company also acquired approximately 7-acres land parcel
emissions through renewables or carbon off-sets, saving more in the vicinity of Indiranagar, Bengaluru. This project is estimated
than 20 percent on water and embodied energy in materials to have a developable potential of approximately 0.6 million sq
while attaining over 40 percent energy savings on-site. This is a ft of saleable area. It has an estimated booking value potential
step towards Tata Realty’s ESG approach to being a “Responsible of approximately `750 crore.
Real Estate Developer Leading the Change with Purpose”. Godrej Properties had also acquired 0.5 acres land parcel from
Sanjay Dutt, MD & CEO, Tata Realty and Infrastructure Limited, the Karam Chand Thapar (KCT) group to develop a luxury project
said, “Tata Realty has always endeavoured to exceed its ESG goals near Carmichael Road, Mumbai. This project has an estimated
and has placed sustainability on high significance. According booking value potential of approximately `1,200 crore.
to International Energy Agency (IEA), by 2050, buildings and
the construction sector combined will be responsible for 30 RELIANCE INDUSTRIES’ SUBSIDIARY BUILDING GREEN
percent of total global energy consumption and 27 percent of SMART CITY NEAR GURUGRAM
total energy sector emissions. We will develop green buildings A subsidiary of Reliance Industries Ltd. is building a smart city near
with LEED platinum certification, WELL certification, and IFC EDGE Gurugram, and one of the four Japanese businesses that will be
certification. In addition to this, we will have an enhanced focus housed there has broken ground for a medical devices division.
on renewable energy inclusion in our energy mix. On the social The company said in a statement: “Model Economic Township
front, we have taken a commitment to touch over one lac lives Limited (MET City), a wholly owned subsidiary of Reliance Industries
positively.” As per the IEA, buildings around the world contribute to Limited (RIL), is creating a world-class Greenfield Smart City near
about 40% to the current greenhouse gas emissions. This has led Gurugram, Haryana. Four of the top Japanese corporations are
long term investors like pension funds and financial institutions to located in the integrated industrial township of MET City, a Japan
analyze the overall energy efficiency of their portfolios. Industrial Township (JIT). The Japanese businesses Panasonic,
“With buildings responsible for a significant amount of emission Denso, and T-Suzuki are all located in MET City. The project’s
and energy consumption, scaling up innovation to support trunk infrastructure, which consists of a water treatment facility, a
availability of more resource-efficient and affordable buildings 220 KV substation built by MET City, a broad road network, and
in emerging markets is vital to addressing climate change and considerable landscaping, has already been completed.
reaching the global goal of net-zero emissions,” said Wendy
Werner, India Country Head at IFC. “We are encouraged by VASCON ENGINEERS INKS JV AGREEMENT FOR
the commitment shown by Tata Group and other private sector COMMERCIAL PROJECT IN KHARADI, PUNE
players in India to contribute to the global climate goals and build Vascon has signed the JDA with Landowner to develop a
a a sustainable future. Our hope this that this will encourage more commercial project at Kharadi a well-established and growing
builders and developers to aim for zero emissions and take part market of Eastern Pune. This project will offer approximately 2.15
in the EDGE certification process.” Lakhs square feet of development area and will be developed as
After establishing its strong foothold in Chennai, Gurugram, and a Retail and office premises. Vascon has already developed more
Mumbai, TATA Realty and Infrastructure Limited aims to add 10 mn. than 15 lakh square feet residential project in Kharadi, and this
Sq. ft. in the next 3 years and move towards its goal of having a project will significantly strengthen Vascon’s Commercial portfolio
portfolio of 45 million sq. ft. by 2027. in Eastern Pune. Commenting on this Siddharth Vasudevan,
TATA Realty and Infrastructure Limited is a 100% subsidiary of Tata Managing Director, Vascon Engineers Ltd said, “I am happy that
Sons and one of the leading real estate development companies we are moving a step ahead with this towards our vision and focus
in India with an extensive portfolio of over 50 projects across 15 for Real Estate business. This project will give us a commercial
cities. TATA Realty and Infrastructure Limited has developed 16.8 launch in East Pune after 5 years. We have had our success in
mn. Sq. ft. of commercial projects and has ~30 mn. sq. ft. of commercial projects in East Pune in Viman Nagar & Kalyani Nagar,
projects under development & planning. now Kharadi will add on to the portfolio as well.”

22 CONSTRUCTION OPPORTUNITIES|DECEMBER 2022