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All clear for Nano Knowledge City

NEW DELHI: Leading realty player Parsvnath Developers has announced joining hands with Sabeer Bhatia, co-founder of Hotmail, and the Haryana Government to develop a 11,138-acre world-class “Nano Knowledge City” at Panchkula near Chandigarh with an investment of Rs.50,000 crore over the next 10 years.

Equipped with a self-sufficient airport, golf course, mass rapid transit system of its own, the proposed city is touted as a regional and international hub for education, business and technology. Parsvnath Developers will initially invest Rs.400 crore.

The project, also known as Parsvnath Nano City, is valued at Rs.50,000 crore ($12 billion) and jointly promoted by the renowned Hotmail innovator Sabeer Bhatia, whose company holds the majority stake of 52 per cent.

The Haryana Govern- ment holds a 10 per cent stake.

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