Parsvnath Eyeing Rs 2100 Cr Sales From Novel Housing Plan In Delhi, Rajpura

Eyeing to attract customers and improve sales, real estate company Parsvnath Developers has rolled out a plan on 3,000 flats where purchasers will require making a payment of just 25% on booking and the remaining on possession.

The company anticipates sales income of Rs 2,100 crore from this plan that is valid on 16 housing and 4 commercial projects for the coming 45 days.

“We are launching a new system which will modify the dynamics of real estate business. The purchasers have to pay 25 per cent of the total cost on booking and rest 75 per cent on offer of possession,” Parsvnath Developers Chairman Pradeep Jain added up.

The plan would assist the first time purchasers as they don’t have additional money to bear dual financial load of paying house rent and rates of interest on home loan, Jain noted.

These 20 projects are situated in the national capital, Ghaziabad, Greater Noida, Dharuhera, Sonepat, Moradabad, Ujjain, Saharanpur, Bhiwadi, Panchkula and Rajpura.

“We will be providing around 3,000 flats in this system in a price array of Rs 1,750 to Rs 20,000 per sq ft. These flats are under various stages of construction,” he said.

When questioned about sales income from this plan, Jain added that the company anticipates Rs 2,100 crore sales from the unsold stockpile of 3 million sq ft offered in this plan.

The overall saleable region of 20 projects is 11 million square foot, out of which 8 million square foot has been sold and 3 million square foot is unsold inventory.

“We have a receivable of Rs 1,400 crore from the customers from flats already sold.”