Chandigarh, India, August 30, 2007 - Parsvnath Developers Ltd on August 30, 2007 has announced the launch of Parsvnath PRIDEASIA, a strategically located project in Chandigarh. With a realization value of approximately USD 1 billion (Rs 4100 crore), Parsvnath PRIDEASIA is an exquisitely designed luxurious township providing for aristocratic living. Located amidst Sukhna lake, golf course, an upcoming five star hotel and in the backdrop of Shivalik range, an investment in this project would provide much more value to its resident than just a luxurious and comfortable living.
Spread over 123 acres, this project is one-of-its-kind and is an integral part of the Rajiv Gandhi Chandigarh Technology Park. Parsvnath PRIDEASIA is a joint venture between the Company and Chandigarh Housing Board. The project has a saleable residential area of 38.5 lakh sq.ft a commercial area of 2.7 lakh sq.ft and a club, sports centre and a water sports complex of 2 lakh sq.ft.
The project is being jointly marketed through marketing arms of the Company and various banks and the amount would be collected in an escrow account. 30% of the gross receipts from the residential segment would go to Chandigarh Housing Board and balance 70% would come to the Company. The realisations from segments other than residential would come entirely to the Company.
Speaking at the launch, Mr. Pradeep Jain, Chairman, the Company said, "Parsvnath PRIDEASIA is one of our most exquisite projects. It is a landmark project in India and an important milestone in furthering the public private partnership model for development of Chandigarh".
"Parsvnath PRIDEASIA is aimed at redefining the yardstick of luxury and magnificence with unique layout and deliverables. It will be the most sought after address in the region given its strategic location coupled with the rising inflow of professionals" Mr. Jain added.
Enveloped with large stretches of green precincts and surrounded by water bodies, Parsvnath PRIDEASIA is a premium accommodation ranging from one to five bedroom air-conditioned apartments with their cost ranging approximately between Rs 52 lakh to Rs 3.8 crore. The project will be launched phase wise with 359 units out of a total of 1314 units being launched in Phase 1. The estimated sales value of Phase 1 of the project is Rs 750 crore. It will also showcase exclusive high-end villas of 8660 sq ft costing approximately Rs 6 crore each.
Alongwith basic amenities of service apartments, school, polyclinic, bus terminal, fire station and petrol pump, this project would also give the opulence of an ultra-modern shopping mall, super luxurious club, sports complex and golf cars for internal commuting. Fully air-conditioned multiplexes & food courts and a luxurious club packed with a well equipped sports complex also add to the grandeur of this plush township
Chandigarh is fast becoming the most attractive hub for investments, job creation, education and living in India. A horizon of peace and beauty, it is grabbing the attention of NRIs and retired individuals in many parts of North India Also attracting leading IT/ITES/BPO Companies, the place is also seeing many professionals residing in the city.
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source: inrnews.com
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