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Parsvnath Developers receives concession rights from DMRC for construction of high-end Shopping Mall in New Delhi

The construction and development work at the Project site has commenced after obtaining all the requisite sanctions and approvals.

November 22, 2021 4:41 IST | India Infoline News Service
Parsvnath Developers
Parsvnath Developers has received concession rights from the Delhi Metro Rail Corporation Limited ("DMRC”) for the construction, development, management, operation and maintenance of a high-end Shopping Mall (“Project”) on land admeasuring 28,400 sq. mtrs., having a potential of 4,00,000 sq. ft. (approx.) leasable area, on BOT basis, situated in New Delhi.

The construction and development work at the Project site has commenced after obtaining all the requisite sanctions and approvals in respect of the Project, including the approval of DMRC for the development of the Project by Unity Parsvnaths LLP.

The Company has into Limited Liability Partnership Agreement dated November 18, 2021, with Unity Buildwell Limited for undertaking the development of the aforesaid Project through a Special Purpose Entity viz. ‘Unity Parsvnaths LLP’ incorporated for the same.

On Sensex, the company's stock closed at Rs15.85 per piece down 5.7%. 

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