Tata Realty and Infrastructure Ltd (TRIL), a 100% subsidiary of Tata Sons, has snapped up a 25.27 acre plot from the Tamil Nadu Industrial Development Corporation for Rs 1,400 crores. TRIL Infopark, a special purpose vehicle, in which TRIL holds majority stake, will develop a Rs 3,500-crore infotech special economic zone in that spot.

According to Sanjay Ubale, MD and CEO, TRIL Tata Sons, the parent company, has invested in the project’s equity and will raise debt for this project to develop the country’s third Tidel Park.

Tata plans to build the park in two phases, resulting in a developed area of 2.1 million sq ft and 1.5 million sq ft of IT space respectively. TRIL will build a convention centre, apartment buildings and a five-star hotel, which will be put up by Indian Hotels Company, owners of the Taj brand.

Meanwhile, the Chennai foray is learnt to be just one of a series of projects that TRIL is expected to undertake. Recently, the company has picked up a 5.54-acre plot for Rs 170 crores in Amritsar in an auction held by Punjab Urban Development Authority for developing shopping or an office complex. The company is also in talks with Haryana to acquire land near the Kundli-Manesar-Palwal expressway to set up a township.