Parsvnath Developers has entered into a memorandum of business understanding with SJP Hotels & Resorts Private (SJP), Migsun Group, for undertaking and completing the construction, development, marketing and sale of its residential project.
The residential building, Parsvnath Palacia, is located at Plot No 5, Sector-Pi, Alistonia Estate, Greater Noida, on the land admeasuring 34,999.22 sq mtr, allotted by Greater Noida Industrial Development Authority (GNIDA) on leasehold basis.
As per the terms of the aforesaid MoU, the company has appointed SJP as an exclusive Project Management Consultant which will have operational and management control of the project.
The said project is an on-going project of the company consisting of six multi-storied towers having total 442 units.
The company has already obtained various approvals (including Registration with RERA), permissions, sanctions, NOC, etc from the respective authorities which are necessary for undertaking construction, development, marketing and sale of the project, which shall be revalidated as per the terms of the aforesaid MoU.