Parsvnath to Develop Film City in Chandigarh

March 8, 2007	(1 votes, average: 2 out of 5)  Loading ...
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Chandigarh, which is renowned for its rock garden, will now have another major hot-spot—a multimedia-cum film city centre, which will be built at an estimated cost of Rs 800 crore —it will not only attract tourists, but will also bring along the Bollywood, who is always on a look-out for new place to shoot.

The project, which will include a film studio, a multimedia park, a multimedia entertainment centre and a multimedia college and research centre, will be develop by Parsvnath Developers.

The state-of-the-art multimedia-cum film city centre, which will be spread over 30 acres, will be completed within 36 months. The company will pay a premium of Rs. 191 crore for the land, which will have a lease period of 99 years.

The company plans to dilute equity in the subsidiary and will raise funds through internal accrual and sale of commercial space.

Pradeep Jain, chairman of Parsvnath Developers, said they are working out other investments details and are scouting for international partners for tie-ups for all the four components of the project.

For this project, Parsvnath has entered into an agreement with the Chandigarh Tourism Board to form a private-public partnership.

The film city will have a digital studio to facilitate film and television production, post-production facilities for digital films, a high-tech animation facility and a high-quality gaming facility.

The multimedia park will provide ready-built space for technology companies and will also facilitate the setting up of their own software and multimedia development centers. The entertainment centre will have a four-screen multiplex with a total seating capacity of 900.

Where as the multimedia college and research centre will have features such as a facility for multimedia studies, modern animation equipment, various international standard devices and software for gaming.

The college will have graduate and post-graduate courses in multimedia for 750 students, and will also have a hostel.

News Published Under:   Chandigarh, Real Estate Developers |

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