SUN-Apollo invests Rs 100 crore in Parsvnath

Parsvnath Developers, has inked an Rs 100 crore agreement with SUN-Apollo India Real Estate Fund LLC, an international real estate private equity fund for an investment in its premium residential project at Ghaziabad, Uttar Pradesh.

January 11, 2011 / 12:00 IST

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Parsvnath Developers, has inked an Rs 100 crore agreement with SUN-Apollo India Real Estate Fund LLC, an international real estate private equity fund for an investment in its premium residential project at Ghaziabad, Uttar Pradesh. The project is spread over an area of approx. 31 acres known as Parsvnath Exotica- Ghaziabad. SUN-Apollo will invest up to Rs 100 crore for a 49.9% stake in the project SPV, Parsvnath Buildwell, which will develop the Project.

The construction of the Project has commenced and all requisite approvals including sanction of building plans, besides various other approvals such as environmental clearance, have been obtained.

first published: Jan 11, 2011 11:52 am

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