Parsvnath launches housing project in Lucknow

October 9th, 2009 MUMBAI - Ansal Housing and Construction Friday announced the launch of its Thai style luxurious villas, Ansals Suvarna Vilas, in Shahpur, Thane. The project, being developed in phases on 225 acres, is the second home project of the real estate major in Shahpur.

October 1st, 2009 NEW DELHI - Realty major Parsvnath Developers has sold an additional four percent stake in a luxury residential project in Delhi to private equity fund Red Fort Capital for Rs.25 crore. Red Fort had earlier picked up an 18-percent stale in the Parsvnath La Tropicana project in north Delhi's Civil Lines area from Parsvnath in June for Rs.90 crore.

September 21st, 2009 NEW DELHI - Carnation Auto, promoted by the former chief executive of Maruti Suzuki, Jagdish Khattar, has tied up with prominent automobile design company Dilip Chhabria Designs to provide customisation services in the country. Among first of the complete customisation offering is for the Toyota Innova, whose interiors see a total revamp including plush leather seats, a privacy partition, a 19-inch LCD TV with optional satellite TV, a sound system with DVD player, a beverages chiller, fold-out tables and ample leg room.

August 19th, 2009 LUCKNOW - Vegetable and fruit sellers, barbers and cobblers, who set up make-shift stalls on roadsides, will soon get their own space in shopping centres in this Uttar Pradesh capital. Aiming to provide a "respectable place to street vendors", the Lucknow Development Authority (LDA) has come up with a project of setting up shopping centres for shopkeepers not having deep pockets.

July 5th, 2009 LUCKNOW - The century old Hazratganj Kotwali building in Uttar Pradesh's Lucknow city was razed to ground by the Lucknow Development Authority (LDA) on Sunday in order to make way for a multi storey parking complex. The Kotwali (or police station) was situated almost in the heart of the city.

June 11th, 2009 NEW DELHI - Private equity fund Red Fort Capital will invest Rs.90 crore in a luxury residential project in the capital being developed by realty major Parsvnath, the realtor said Thursday. According to an agreement reached between the two firms, Red Fort will pick up 18 percent equity interest in the project, expected to be completed in three years and generate revenues of about Rs.1,300 crore.

June 10th, 2009 LUCKNOW - Low-cost carrier IndiGo will start operations in Uttar Pradesh July 5 with daily flights from Lucknow to Bangalore, Mumbai, Kolkata, New Delhi and Patna. "We have been eyeing Lucknow for a while," IndiGo president Aditya Ghosh said at a media briefing here.

June 4th, 2009 NEW DELHI - Realty major Parsvnath Developers has bagged an order worth Rs.19.86 crore from Delhi Metro Rail Corp for constructing a residential project at Mundka Depot here, the company said Thursday. In a regulatory statement, the company said it would build 130 flats during the second phase of the Delhi Mass Rapid Transport System (MRTS) project.

June 1st, 2009 NEW DELHI - Realty major Parsvnath Developers Monday said it had received approval for its luxury housing project at Civil Lines in Delhi and was expecting a return of Rs.1,300 crore from the project in three years. Parsvnath Landmark Developers, a subsidiary of Parsvnath Developers, has received all approvals to start construction of the project, comprising 453 units with a built-up area of 20 lakh square feet, the company said in a statement.

May 25th, 2009 NEW DELHI - Taking cue from the other realty majors, the board of real estate firm Parsvnath Developers Monday approved a proposal to raise up to Rs.2,500 crore (Rs.25 billion/$529 million) through qualified institutional placement (QIP). "The board has decided to raise funds by various means, including through issuance of further securities to persons other than the existing equity shareholders of the company and also by way of QIP to qualified institutional buyers (QIB) for raising a sum of up to Rs.2,500 crore," Parsvnath said in a regulatory statement.

May 21st, 2009 NEW DELHI - Realty major Parsvnath Developers will develop an IT park in Gurgaon, it said Thursday. The company is already in possession of the land and will invest Rs.135 crore in the project, Parsvnath Technica, it said in a statement.

May 18th, 2009 NEW DELHI - Realty major Parsvnath Developers has got environmental clearance from the Haryana government for its Parsvnath Paliwal City project at Panipat, the company announced Monday. 'After getting environmental clearance (from the State Environment Impact Assessment Authority), Parsvnath is now in a position to start the construction of the township project soon,' a company statement said.

March 17th, 2009 AHMEDABAD - Parsvnath Hotels Ltd (PHL), a subsidiary of real estate major Parsvnath Developers, Monday said its Rs.2.5-billion (Rs.250-crore) five-star hotel project in Vejalpur near here would be completed by 2010-end. The 152-room luxury hotel will also have a 24-hour coffee shop, multi-cuisine and specialty restaurants, conference rooms, a business centre and a few boutique stores, a senior company official said.

January 6th, 2009 CHANDIGARH - Controversial mega projects in Chandigarh worth billions of rupees under prevailing market prices are under the scanner of the Central Vigilance Commission (CVC). The CVC has sought all files pertaining to the mega-projects from the Chandigarh administration to investigate alleged corruption in land deals, official sources in the administration confirmed Wednesday.

December 28th, 2008 LUCKNOW - It's not for the corporate sector this time. Students of the premier Indian Institute of Management, Lucknow (IIM-L) will now apply their managerial skills to teach villagers sanitation and hygiene management.