Dec 16, 2006

Parvsnath: tie-ups to construct hotels

Delhi based real estate player Parsvnath Developers is planning to enter into a tie-up with a hotel chain to construct 14 hotels across the country. The company plans to build 2,100 rooms in the 4-star and 5-star category with a total investment of Rs 20 billion including the cost of the land. The hotels will be located in Delhi, Chandigarh, Lucknow, Shirdi, Jodhpur, Ahmedabad and Kochi among other places. The company recently bagged a commercial plot admeasuring 7,232.81 sq. mtrs. situated at Twin District Centre, New Delhi . The price of the plot is Rs 2.31 billion. The plot will be used for building a retail / office / commercial complex.

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