Parsvnath leases office space in Connaught Place

Parsvnath Developers has leased about 1.7 lakh square feet in its office building near Connaught Place to big companies like SBI, Aditya Birla Group and Axis Bank, and expects an annual rental income of around Rs 100 crore from this project.

Parsvnath, which recently sold 140 acres at Sohna in Gurgaon to Supertech for Rs 665 crore, has completed construction of an official building covering 2.8 lakh square feet of leasable area on Bhai Veer Singh Marg, Gole Market. 

The company had bagged this project from DMRC , on a BOT (build-operate-transfer) basis in 2010. It has invested about Rs 300 crore to develop this project, including Rs 99.5 crore upfront payment to DMRC. 

‘This is a world class new generation office building in central business district area of Delhi. After many years, a new development has come up in the NDMC area. We are very excited about this project as it will give a good rental income to the company,’ Parsvnath Developer’s chairman Pradeep 

Jain said.