Parsvnath pays R501cr instalment for rail land

Realty firm Parsvnath Developers has said it has paid Rs 500.86 crore instalment to the Rail Land Development Authority (RLDA) against the 38 acres of rail land that it had bought for Rs 1,651 crore

Realty firm Parsvnath Developers has said it has paid Rs 500.86 crore instalment to the Rail Land Development Authority (RLDA) against the 38 acres of rail land that it had bought for Rs 1,651 crore.

Parsvnath had bought this land,located at Sarai Rohilla-Kishanganj in the national capital,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 chairman Pradeep Jain said in a statement.

Story continues below this ad

In May this year,a development agreement was executed between RLDA and Parsvnath Rail Land Project,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.

Tags:
Parsvnath Developers

Police personnel seen to control the situation during a massive protest over the statehood demand and the inclusion of Ladakh under the Sixth Schedule, in Leh on Wednesday. (ANI Video Grab)

Statehood protest takes violent turn in Ladakh, BJP office set ablaze in Leh

India2 hr ago

Protests in Ladakh turned violent as students and youth organisations demanded statehood and Sixth Schedule status. Two elderly protesters fainted, prompting a shutdown call. A BJP office and security vehicle were set on fire. Activist Sonam Wangchuk urged for a peaceful approach. The demand for Sixth Schedule status is due to Ladakh's tribal-majority population and direct central administration.

View all shorts

Live Blog