Red Fort, Parsvnath Launch New Dehli Mixed-Use Development
Red Fort Capital and Parsvnath Developers Ltd.have launched a 464,515 million square meters residential and mixed-use project in the heart of New Delhi. The development project was secured from India’s Rail Land Development Authority (RLDA) for $360 million.
Located on a 38-acre parcel near the Connaught Place CBD, the project will offer premium home buyers more than 79,709 million square meters of space and abundant green space. In addition, the project will provide more than 46,452 square meters of mixed-use space, including retail, office, hotel and healthcare facilities, as well as civic facilities and redevelopment space allocated to RLDA.
“New Delhi lacks integrated township supply,” says Subhash Bedi, managing director of Red Fort. “This project will offer end-users an integrated live, work and play env