Parsvnath bags Rs 800cr multimedia-film city project

New Delhi, Mar 2 (UNI) Parsvnath Developers Ltd today said it has won a Rs 800 crore multimedia-cum film city centre project at Chandigarh.

The company has formed a special purpose vehicle, Parsvnath Film City Ltd, for implementing the project and signed the agreement with the state tourism department.

The project, with a total Floor Area Ratio (FAR) of 13,00,000 sq ft will be spread over 30 acres. It will be completed within 36 months, which includes six months for getting the necessary clearance.

The company will pay a premium of Rs 191 crore for the land with a lease period of 99 years.

''This project marks the foray of Parsvnath Developers Ltd in the entertainment infrastructure arena,'' said company Chairman Pradeep Jain.

The project will have four components -- a film studio, multimedia park, a multimedia entertainment centre and a multimedia college and research centre.

The film city, with a total FAR of 3,47,000 sq ft, will have features like digital studios for film and television productions, post-production facilities for digital films, high-tech animation facility, high-tech gaming facility and a cafeteria.

The multimedia park will provide ready-built space for technology companies working in the multimedia industry, to facilitate setting up of own software / multimedia development centers. The park will be built out a total FAR of 3,47,000 sq ft.

The multimedia entertainment centre will consist of a four-screen multiplex with a total seating capacity of 900 persons, a hotel with a provision of at least 200 rooms, commercial space for food parlours, games centre, internet cafe and an exhibition centre. A twin-level basement parking for the multiplex is also being proposed.

This would be developed on a total FAR of 2,61,360 sq ft.

The multimedia college and research centre will have features like facility for multimedia studies, modern equipments for animations, various international standard devices and software for gaming and a research centre.

The college will provide education along with hostel facility to at least 750 students. It will be spread on a FAR of 3,47,000 sq ft.

Film Producer Satish Kaushik is the technical advisor to the project.

UNI