Tata Realty Planning Major Office Developments in Bengaluru, Hyderabad and Pune

Tata Realty Going Big on Office Developments

To begin with, Tata Realty is planning to spend Rs 4,000 crore to build 5 million square feet of office space in Bengaluru

By the end of 2023 - Tata Realty and Infrastructure intends to release 5 msf of office space in Bengaluru, with an expenditure of Rs 4,000 crore. This would include two IT parks.

According to Ritesh Sachdev, SVP and head of commercial leasing and asset management at Tata Realty, the business is expanding into new commercial markets, including Bengaluru, Hyderabad, and Pune.

The business also hopes to expand into the commercial markets of Pune and Hyderabad.
"With an estimated Rs 6,000 crore in investment, the business intends to create around 8 msf of office premises in Bengaluru and Pune. Furthermore, over the next six years throughout India's key cities, we want to increase our commercial portfolio from its current 10 msf to 19 msf.

Tata Realty, according to Sachdev, would keep building in Tier I cities but will avoid Kolkata because of the city's weak real estate supply and demand.
At least two of the company's planned IT parks in Bengaluru's office market would be located in that city.

The areas of Hebbal and Whitefield, in the city's northeast, where the launches will take place, total around 30 acres. In addition to high land prices, he said, "we are also looking at the outer ring road (ORR) and Sarjapura road," but "the infrastructure is still a challenge in these areas."

The Intellion Edge project in Pune is expected to cost Rs 2,000 crore, or around $2.8 billion. Approximately five years ago, the corporation renamed its commercial divisions Intellion, with Intellion Park for its IT parks and Intellion Square for its smaller office buildings.