Parvnath hopes to get Rs 350 cr from Saharanpur township

Realty player Parsvnath Developers today said it has started work on its Saharanpur township project in Uttar Pradesh, and is expecting a realisation of Rs 350 crore.

"The realisation from the project will be about Rs 350 crore spread over a period of two years. The development of township is expected to be completed in two years," Parsvnath said in a statement.

Spread over 107 acres the project, Parsvnath City, will offer plots, independent floors and expandable villas at rates starting from Rs 9.50 lakh.

Parsvnath Chairman Pradeep Jain said he is confident of the project's success as "there is no dearth of buyers for projects priced at affordable rates".

He also welcomed the recent move by the government to give 1 per cent subsidy on home loans up to Rs 10 lakh.

The realty developer has presence in over 47 cities and 16 states, through various projects.

The company has a "developable area" of over 193 million sq ft and is working on 42 million sq ft, of which 35.16 million sq ft is already sold.