Parsvanath Ltd bags prime land from Goa govt for Rs 55.4 cr

New Delhi, Aug 7 (UNI) Real estate major Parsvnath Developers Ltd, today said it has been awarded prime land in Panjim, Goa by the state government-owned Economic Development Corporate Ltd for the development of a commercial complex, at a cost of Rs 55.4 crore.

Parsvnath Developers won the auction for the plot of land with its bid at Rs 45,100 per sqmt, for the entire 12,290 sq mt.

''We are extremely pleased with our successful bidding of the prestigious Patto Plaza at Panjim, Goa. Given Goa's status as the first choice for international tourists visiting India, we intend to convert this commercial project as a show piece of Parsvnath for global audiences,'' company Chairman Pradeep Jain said.

He added that the company will build about 4,00,000 sq ft on this plot and plans to develop a shopping mall-cum-hotel.

Parsvnath Developers (PDL) is one of the leading real estate development companies with a pan India presence.

It is currently developing integrated townships in multiple towns, residential projects across nation, commercial complexes including shopping malls and multiplexes and a hotel.

The company has ambitious growth plans and has diversified into another vertical of real estate development -- Special Economic Zones (SEZs), to provide the platform for proper use of local talent and to enhance economic growth of the state.

PDL also plans to foray into IT parks and resorts to capitalise on the growing real estate development opportunities offered by sectors such as tourism and information technology.

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