Parsvnath Developers has surrendered its IT special economic zone in Haryana, as it has faced land acquisition problems there. It had requested its subsidiary, Parsvnath Infra, for de-notification of the zone, considering it has not been possible to acquire some small pockets within the notified area thereby affecting contiguity. Further extension of formal approval has been denied by the Ministry of Commerce. Earlier, few other developers have also surrendered their SEZs due to the land acquisition problems.
Parsvnath Developers is one of India’s leading real estate developers. The company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country.