Parsvnath launches luxury township in Chandigarh
Realty firm Parsvnath Developers today announced the launch of a township in Chandigarh from which it can earn a revenue of around one billion dollars.
By PTI |
MUMBAI: Realty firm Parsvnath Developers today announced the launch of a township in Chandigarh from which it can earn a revenue of around one billion dollars.
"Spread over 123 acres and with a realisation value of one billion dollar (Rs 4,100 crore), this project is one-of-its-kind and is an integral part of the Rajiv Gandhi Chandigarh Technology Park," the company said in a communique to the Bombay Stock Exchange.
Parsvnath PRIDEASIA is a joint venture between the company and Chandigarh Housing Board. The revenue from this project would be realised over a period of three years, including the current financial year. Gross receipts from the residential segment would be shared in a ratio of 70:30 between the company and the Board.
The project has a saleable residential area of 38.5 lakh sq ft, a commercial area of 2.7 lakh sq ft and a club, sports centre and a water sports complex of 2 lakh sq ft. The township would be a premium accommodation, ranging from one to five bedroom air-conditioned apartments with their cost varying between Rs 52 lakh to Rs 3.8 crore, it said.
The project would be launched phase wise with 359 units, out of a total of 1,314 units, being started in phase one. The estimated sales value of phase one of the project is Rs 750 crore. It would also showcase high-end villas of 8,660 sq ft, costing Rs six crore each.
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