Parsvnath Developers - Press Release

Parsvnath Developers Limited has announced that the Company has laid the foundation of its star rated project Parsvnath Prideasia at Chandigarh on April 05, 2008. The foundation laying has been done by his Excellency Gen. (Retd.) S F Rodrigues, PVSM, VSM, Governor of Punjab & Administrator UT in a grand ceremony held at its site at Rajiv Gandhi Technology Park Chandigarh.     Parsvnath PRIDEASIA, the first Public Private Partnership project in India for development of an IT habitat and first Integrated luxury fully built up Township project, is an enigma which is growing fast on those who have come visiting the place. The Company received an overwhelming response in the bookings phase.     PDL has gone for foundation laying ceremony today at the site after receiving environmental clearances and approvals on building and layout plans. Mr. Pradeep Jain - Chairman Parsvnath Developers Ltd. Mr. Mohan Jeet Singh IAS - Chairman Chandigarh Housing Board and dignitaries of Chandigarh were present at the time of foundation laying.     Commenting on the foundation laying, his Excellency Gen. (Retd.) S F Rodrigues, PVSM, VSM, Gov. Punjab & Administrator UT, said, "The potential of Chandigarh as a city is immense and is fast emerging as the most attractive hub for investments, Job creation, education and living in India. I am pleased that country's leading real estate developers have shown interest in our state. I am sure that with Prideasia at Chandigarh, our city will gain the Limelight as the next preferred destination with world class amenities."     Commenting on the occasion, Mr. Pradeep Jain, Chairman, Parsvnath Developers Ltd., said, "Chandigarh a horizon of peace and beauty, is grabbing the attention of NRIs and of people who aspire for a luxurious lifestyle. The city is also attracting leading IT/ITES/BPO Companies: the place is also seeing many professionals residing in the city."     "Prideasia has been conceived to match the expectations of the NRI/HNIs who are accustomed to amenities of the developed countries. First of its kind Prideasia is aimed to offer the very best of India mixed with the excellence of the west. The residents deciding to relocate here will find the comforts enjoyed broad with Indian warmth. The project is a product of commitment, challenge to showcase what we offer. Parsvnath is committed to create the brand Prideasia synonymous with the very best possible in real estate development." Mr. Jain expressed.     Currently, Parsvnath's ongoing projects in and around Chandigarh includes a Film City project at Chandigarh, Mall Multiplex cum Hotel at Mohali, Kingcity Township In Rajpura, Parsvnath Royale Group Housing at Panchkula etc to name a few.     The Bookings have been made open for Apartments and villas with the commencement of construction at site which is scheduled to be completed by 2010.