Parsvnath to Develop Metro Station Cum Mall at Common Wealth Games Village

Parsvnath Developers Ltd has announced that the Company in a significant deal bagged a new project from Delhi Metro Rail Corporation to develop a prestigious integrated Shopping Mall and Metro Station at the Games Village complex. This is the second DMRC project after Azadpur Metro Station for which the Company has been awarded to construct the metro station with shopping mall.

Situated opposite to the Akshardham temple where the Commonwealth games will be held in 2010, this village complex will be developed by the government to facilitate the commonwealth games. The project sprawls over an area of 7.30 acres. The shopping mall and station are to be developed in an approx. area of 3,65,000 sq. ft. The project would cost approx. Rs 160 crores. The concession period for the same is 30 years on BOT basis.

With this new project, the Company has added another DMRC project to its kitty. The Company has already entered into concession agreements to develop shopping malls on 11 stations owned by the Delhi Metro Railway Corporation (DMRC) on a Build-Operate-Transfer basis. Of these, 5 have already been executed. These include Parsvnath Metro Mall at Metro Stations at Shahdara, Pratap Nagar, Inderlok, Seelampur and Tis Hazari.

Speaking on the issue, Mr. Pradeep Jain, Chairman, of the Company said, "Association with DMRC for infrastructural development of Commonwealth games has been a matter of pride for us. We already have a foothold in Delhi Metro and are working on other projects with DMRC as well. We believe that this project will add as a landmark to our portfolio."

The project would be beneficial for commuters who will travel during the Commonwealth games from all corners of the city. Shopping mall in the complex would ensure a smooth shopping experience for its customers. The Metro Station cum Mall is located in premium location ensuring an enormous footfall.

The project will be completed by the mid of 2010, before the commencement of Commonwealth Games.
Source : bseindia.com