{"id":804,"date":"2024-05-08T10:11:26","date_gmt":"2024-05-08T04:41:26","guid":{"rendered":"https:\/\/www.crematrix.com\/blog\/?p=804"},"modified":"2026-04-17T11:18:38","modified_gmt":"2026-04-17T05:48:38","slug":"tcg-real-estate-successfully-secures-significant-funding-of-%e2%82%b9714-crore-from-sbi-for-its-world-trade-center-project","status":"publish","type":"post","link":"https:\/\/www.crematrix.com\/blog\/tcg-real-estate-successfully-secures-significant-funding-of-%e2%82%b9714-crore-from-sbi-for-its-world-trade-center-project\/","title":{"rendered":"TCG Real Estate Successfully Secures Significant Funding of \u20b9714 Crore from SBI for Its World Trade Center Project"},"content":{"rendered":"\n

In a significant real estate development in Gurugram, TCG Real Estate, a leading industry player, has secured funding of a whopping \u20b9714 crore from the State Bank of India for its ambitious World Trade Centre project. This is an important milestone that the project has achieved and is surely reflective of the trust that the financial institution, SBI has in TCG\u2019s competence and potential. <\/p>\n\n\n\n

According to the documents accessed by CRE Matrix<\/a>, Energetic Construction Pvt. Ltd, a subsidiary of TCG Urban Infrastructure Holding Pvt Ltd, is behind the project. The Gurugram Project is set to be an eye-opener to the region\u2019s commercial arena. The project\u2019s leasable space is approximately 1 mn sq ft. This suggests that the project is poised to revolutionize the commercial landscape in Gurugram, particularly in the realms of office spaces and retail.<\/p>\n\n\n\n

Furthermore, the documents reveal that the deal had detailed dynamics around the funding. It was funded via a 72-month loan at an annual interest rate of 9.6 percent. Energetic Construction Private Limited negotiated an amicable funding provision with SBI to meet its capital needs. The deed of hypothecation was registered on March 28, 2024. This was executed between Energetic Construction Private Limited in favor of SBICAP Trustee Company.<\/p>\n\n\n\n

The scale and scope of the project are impressive, with four towers set to be constructed over an area of 7.94 acres. Two office towers covering over 9.4 lakhs square feet, and two retail towers covering an area of 72,407 square feet, highlight the project’s magnificence. Located advantageously off NH8 on Sohna Road, the project has excellent accessibility and visibility, attracting interested tenants and investors. The estimated project expenditure amounts to \u20b9 1211.86 crore out of which \u20b9 the promoter has invested \u20b9 497 crore. The funding secured from SBI represents a significant portion of the financial requirements and is indicative of the faith the bank has in the project’s potential and TCG’s history of completing profitable real estate projects.<\/p>\n\n\n\n

In October 2027, commercial operations are anticipated to begin. According to the documents, the project\u2019s building phase will take 48 months, and there will be an additional 12 months of grace period. A penalty interest of 2% will be charged per annum on delayed payments that exceed 60 days from their due date. If the delay extends beyond 60 days, a higher penal interest rate of 5% will be applied to the outstanding amount for the duration of the delay, as specified in the loan documents.<\/p>\n\n\n\n

TCG’s long-term vision for the Gurugram undertaking aligns with the evolving dynamics of the real estate market, which increasingly favors combined-use developments integrating workplace and retail spaces. By leveraging its understanding and assets, TCG aims to create a vibrant environment that fosters collaboration, innovation, and an economic boom.<\/p>\n\n\n\n

Media Mentions<\/strong><\/h2>\n\n\n\n