Parsvnath Developers Ltd, one of India’s leading real estate developers has won the bid to develop a commercial project on 18632 sq mt of land at Sector Delta-II in Greater Noida.

The estimated cost of the project to the company including land would be Rs 160 crore. The saleable area would be approximately 3.6 lakh sq ft.

“The property in Greater Noida has a total area of 4.75 acre. The project includes land and construction. The realisation will be around Rs 300 crore, Rs 100 crore revenue is expected in this FY and the balance in the next two years,” said Mr Pradeep Jain, Chairman, Parsvnath Developers Ltd to NDTV.
The bid was offered by Greater Noida Industrial Development Authority. Parsvnath emerged as the highest bidder to bag the project in the fiercely competitive bid.

“We are pleased to have won this highly competitive bid. The commercial project will be one-stop shop catering to the needs of all segments of society. Once complete, the project will be a landmark development in the area and will house some of most renowned national and international brands,” Mr Jain added.

The mall will have the presence of the best of brands, elaborate food-courts, acclaimed restaurants/ food chains, etc. Parsvnath will start the construction on the project once it has all the necessary approvals. The project would ensure a good footfall and will be a shopping icon for the area.