TCG Real Estate has secured funding of Rs 714 crore from the State Bank of India to develop the World Trade Center project in Gurgaon. The project has a leasable area of about 1 million square feet, according to documents obtained by CRE Matrix, a real estate data analytics firm.  

According to the documents, Energetic Construction Pvt. Ltd, promoted by TCG Urban Infrastructure Holding Pvt. Ltd, has secured funding from SBI. 

According to the documents, the funding was secured through a 72-month loan with a 9.6% annual interest rate. 

The hypothecation deed was registered on March 28, 2024. Energetic Construction Private Limited signed this document in favor of SBICAP Trustee Company. 

Over the years, TCG and its subsidiary acquired 7.94 acres of land in Gurgaon. “The borrower now purposes to undertake the project with mixed-use development comprising office space and high street retail in the name of World Trade Center, Gurgaon located on NH8,” according to the documents. 

The property is off NH8 on Sohna Road in Gurgaon.

According to the documents, the project will consist of four towers: two office towers covering 9.4 lakh sq ft and two retail towers covering 72, 407 sq ft each. 

According to documents, the project has an estimated cost of 1211.86 crore. 

According to the documents, the company requested financial assistance from SBI to fund the project in part. The lender agreed to provide a rupee term loan with a maximum principal amount of Rs 714 crore based on the borrower’s representations and warranties. 

Emails have been sent to both TCG Real Estate and SBI.