BackParsvnath Developers completes payment for Delhi plot
Parsvnath pays remaining `500.86 crore to RLDA for the Sarai Rohilla land in Delhi
Premium(Ramesh Pathania/Mint )
Mumbai: Parsvnath Developers Ltd has informed stock exchanges on Friday that it has paid the remaining ₹ 500.86 crore to the Rail Land Development Authority (RLDA) for the Sarai Rohilla land in Delhi that it had bought through an auction in 2010.
The company had won the rights to the land in Sarai Rohilla-Kishanganj area in North Delhi at an auction in 2010 after agreeing to pay ₹ 1,651 crore for it.
The company said it had paid ₹ 660 crore to RLDA in two instalments and had furnished the required bank guarantees.
In June, the company had said it had taken possession of a 38 acre plot in Delhi from RLDA, on which it plans to build a high-end housing project after getting regulatory approvals.
Parsvnath has a 51% stake in the project and the private equity firm Red Fort Capital Advisors Pvt. Ltd the balance 49%.
Shares of Parsvnath Developers were trading at ₹ 32.35 apiece, up 1.73%, at 10:20am, while the BSE Sensex was up 0.4% at 18,386.17 points.
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