Panaji's Patto Plaza goes to Parsvnath

Leading real estate developer Parsvnath Developers has been awarded a prime land in the heart of the capital by the state-owned Economic Development Corporate (EDC) to develop a commercial complex.

Parsvnath Developers emerged victorious in the bid for this prime land with its Rs 45, 100 per sq mt bid for the entire 12,290 sq mt. Thus, the total amount could be pegged at over Rs 55.4 crore.

Pradeep Jain, chairman, Parsvnath Developers, said: "We are pleased with our successful bidding for the prestigious Patto Plaza at Panaji. This location akin to Cannaught Place in Delhi and Mumbai's Nariman Point. Given Goa's status as the first choice for international tourists visiting India, we intend to convert this commercial project as a show piece."

He said the company would build approximately 4, 00,000 sq ft on this plot and plans to develop a shopping mall-cum-hotel to attract tourists.

The plan is to create the hotel and mall as a destination point, enhancing the charm of Goa.