Parsvnath Developers gets concession rights from DMRC for shopping mall

Parsvnath Developers Limited said that it has secured concession rights from the Delhi Metro Rail Corporation (DMRC) for building, developing, managing, operating and maintaining a high end shopping mall on land admeasuring 28,400 sq.

The shopping mall will have a potential of around 4,00,000 sq. ft. (approx.) leasable area on BOT basis. It will be built at Netaji Subhash Place, near Netaji Subhash Place metro station.

Parsvnath Developers said that it had entered into limited liability partnership with Unity Buildwell Limited for carrying out the development of the project via a special purpose entity called ‘Unity Parsvnaths LLP’.

The real estate company said that the construction and development work at the shopping mall project site has begun after getting all the required sanctions and approvals, including the approval of Delhi Metro Rail Corporation for the development by Unity Parsvnaths.