New Delhi, Sep 2 (IANS) Realty major Parsavnath Developers Ltd Tuesday launched its group housing project in Moradabad as part of its strategy to spread into smaller cities, the company announced here.
With a proposed investment of Rs.150 million, the Parsavnath Residency is the company's second residential project in Moradabad.
Parsavnath recently completed its residential project Parsavnath Pratibha, and commercial projects Parsavnath Mall, Parsavnath Plaza I and Parsavnath Plaza II in the city.
Parsavnath Residency is expected to be completed by the end of 2010.
This is part of the larger expansion plan of the company in tier II and tier III cities, following the shrinking of profit margins in big cities.
Parsavnath has already announced various projects in Meerut, Lucknow, Jodhpur, Saharanpur, Panipat and Ujjain - its focus areas over the next three to five years.
"This is our second residential project in Moradabad. I am confident this launch will reinforce the confidence of buyers wishing for a metropolitan lifestyle," said Parsvnath Developers chairman Pradeep Jain.
