Sabeer Bhatia in knowledge city project
Real estate developer Parsvnath on Thursday tied up with Sabeer Bhatia, co-founder of Hotmail, to develop a Rs. 50,000-crore knowledge city project in Haryana.
The Parsvnath Nano City project will come up at Panchkula near Chandigarh. The realty firm will invest about Rs. 400 crore in the form of equity and debt in the project, Parsvanath Developers (PDL) chairman Pradeep Jain told presspersons.
“It is a public-private partnership project in which Haryana government will have 10 per cent equity stake, Parsvnath developers will have 38 per cent and the remaining 52 per cent will be with Sabeer Bhatia promoted group,” he added.
The project, spread over 400 hectares of land and modelled on Silicon Valley, will be completed in two phases over the next 10 years. —PTI
Printer friendly
page
Send this article to Friends by
E-Mail
Property Plus
Bangalore
Chennai
Hyderabad
Kochi
Malabar
Thiruvananthapuram
