Red Fort Capital and Parsvnath Developers have launched Red Fort Parsvnath Towers, a 300,000 square foot grade A office project in Connaught Place, New Delhi’s supply-constrained CBD.
The Red Fort Parsvnath Towers are located on a five-acre parcel adjacent to The Metropolitan Hotel and convenient to a metro station.
Red Fort has committed USD26m to the transit-oriented development, which is being developed in accordance with a Delhi Metro Rail concession agreement.
Parry Singh, managing director of Red Fort, says: "We are delighted to back Parsvnath’s new office project in Delhi’s CBD. Parsvnath is a proven developer of transit-oriented developments, and Red Fort Parsvnath Towers’ location is second to none, given its central location within Connaught Place, strong in-place infrastructure and close proximity to a metro station."
Pradeep Jain, chairman of Parsvnath, adds: "This project will set a new international benchmark for the commercial property market in India. We are pleased that Red Fort Capital and Parsvnath have further strengthened their long-term relationship with this landmark project, which will be a welcome addition to the Connaught Place skyline."