Parsvnath pays its 3rd installment for rail land
Real Estate

Parsvnath pays its 3rd installment for rail land

For the purchase of 38 acres of Indian Railways at Rs 1,651 crore, realty firm Parsvnath Developers has paid Rs 500.86 crore as third installment to the Rail Land Development Authority (RLDA). Parsvnath had bought this land, located at Sarai Rohilla-Kishanganj in Delhi from RLDA in 2010 through an auction.

The company has so far made payments of three instalments together with interest aggregating to Rs 1,161.46 crore, Parsvnath Group said in a statement.

A development agreement was executed between RLDA and Parsvnath Rail Land Project in May this year and a special purpose vehicle incorporated for implementing this project. The company will develop luxury apartments, shopping areas, railway housing, railway service building, hospital and other amenities in the land.

For the purchase of 38 acres of Indian Railways at Rs 1,651 crore, realty firm Parsvnath Developers has paid Rs 500.86 crore as third installment to the Rail Land Development Authority (RLDA). Parsvnath had bought this land, located at Sarai Rohilla-Kishanganj in Delhi from RLDA in 2010 through an auction. The company has so far made payments of three instalments together with interest aggregating to Rs 1,161.46 crore, Parsvnath Group said in a statement. A development agreement was executed between RLDA and Parsvnath Rail Land Project in May this year and a special purpose vehicle incorporated for implementing this project. The company will develop luxury apartments, shopping areas, railway housing, railway service building, hospital and other amenities in the land.

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?