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| Parsvnath Developers Limited |
At an investment of about Rs 600 crore, the company is developing a commercial project on KG Marg near Connaught Place and a shopping mall at Rohini here.
The company would also explore listing of about 12 Delhi Metro malls through Real Estate Investment Trusts (REITs) as tax sops offered in the Budget for this instrument have paved the way for its launch in the Indian market.
"With the government relaxing FDI rules in real estate, our two commercial projects in Delhi's KG Marg and Rohini will become FDI compliant. We will explore the option of raising foreign funds in these two projects," Parsvnath Developers Chairman Pradeep Jain said.
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Relaxation in the FDI rules has given boost to the Real Estate sector and this will help in mainstreaming public-private partnerships.
ReplyDeleteParsvnath should not be allowed to raise foreign funds till it does not clear its bank loans and completes the existing projects. The share value was quoting at Rs. 299/- in 2008. Today it is quoting at Rs 30/- It should set its house in order and address the problems of investors and buyers first.
ReplyDeleteforeign fundraising is an essential component of the development of a real estate project whether its large or small in size.
ReplyDelete