Parsvnath and Indiabulls jointly bid for railway lands

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Parsvnath Developers Ltd and Indiabulls Real Estate Ltd (IBREL) have jointly submitted a request for qualification (RFQ) to the Rail Land Development Authority (RLDA) for developing commercial complexes.

The companies are bidding for ten prime location plots being offered by the Indian Railways for commercial development across various cities that include Delhi, Kanpur, Gwalior, Visakhapatnam, Kolkata and Bengaluru.

Parsvnath and IBREL have strategically entered into an understanding for jointly developing commercial centres in railway plots.

The ministry has shortlisted about 700 acres of railway land in 107 sites across the country for commercial development on public-private partnership basis.

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