Parsvanath Hotels Ltd, a subsidiary of Parsvanath Developers Limited (PDL), is set to develop 32,920 square feet of retail space at Parsvanath Planet Plaza at Gomti Nagar, Lucknow. Parsvnath has recently got the ‘four-star category’ approval from the ministry of tourism, to develop a hotel-cum-shopping centre at the said place.
To be developed with an initial investment of Rs 25 crore, the project is expected to be completed in the next two years.
Speaking to Indiaretailing, the company’s spokesperson said that in the 12-storey
project, the first two floors are meant for retail. A dedicated section on the ground floor will have the hotel’s lobby as well.
The area meant for retail space and the hotel area will be segregated, and have separate entrances.
The spokesperson did not divulge the names of the occupying retailers.
The construction of the project will be undertaken by Parsvnath Hotels Limited, and managed by Fortune Park Hotel Ltd, a wholly owned subsidiary of ITC Ltd.
The total developable area of the 7,778 square yard Parsvnath Planet Plaza will be 150,000 square feet.
– Raja Ghoshal
