Parsvnath buys out JV company from OCL India

Saturday, March 17, 2007, 19:44 [IST]

New Delhi, Mar 7 (UNI) Realty major Parsvnath Developers today acquired the remaining stake from its equal joint venture partner OCL India Ltd, a cement manufacturer.

The JV company -- Parsvnath Landmark Developers Pvt Ltd (PLDPL) -- has now become a wholly-owned subsidiary of Parsvnath Developers.

The real estate developer has won the bid to build a world-class mall at Rohini in North West Delhi at Rs 231 crore, expected to be fully operational in two years.

The total area of the plot is 7,232.81 sq meters and the built-up area is 18,299.01 sq meters.

The mall will offer the facilities of an exclusive club with provisions for fitness centre, swimming pool besides making the mall an ideal place for shopping, entertainment with elaborate food courts.

UNI

Topics: REAL ESTATE-PARSVNATH-ACQUISITION

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