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Parsvnath to develop film city

Our Bureau

New Delhi, March 2

Real estate player Parsvnath Developers Ltd (PDL) will develop a multimedia-cum-film city centre at Sarangpur, Chandigarh. The project is valued at around Rs 800 crore.

Parsvnath Film City Ltd, a subsidiary of PDL, formed as special purpose vehicle for implementing the project. Film producer Mr Satish Kaushik is the technical advisor for the project. Parsvnath will pay a premium of Rs 191 crore for the land with a lease period of 99 years. The project will be spread over 30 acres and completed within 36 months.

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