Parsvnath developer planned to sell land to reduce debt
The realty builder Parsvnath Developers planned to sell its commercial land in Connaught Place, New Delhi.
The Sahara group and the ICICI are the major contenders for the land.
It’s a 1.18 acre land at kasturba Gandhi Marg. Parsvnath Builders were bought the land in 2008, and planned to construct a retail cum office complex in the area.
Now as the debt amount has increased at Rs 1300 crore, the Developer wants to sell the land to pay off some portion of the debt.
Earlier also Parsvnath developers made few fund raising deal to keep the inflow of funds.
More related story:
Rs 14 Crore of Debt Everyday for Real Estate Companies
Source : Business Standard
Debt in real estate, ICICI, land at kasturba Gandhi Marg, land in Connaught Place, Parsvnath Developers, projects in delhi, Properties in Delhi, real estate in Delhi, retail and office complex, Sahara Group
[...] Parsvnath developer planned to sell land to reduce debt [...]