On its land located on the main Gurgaon-Sohna road, realty giant Parsvnath Developers intends developing the Parsvnath Technica cyber park, with an office space of 700,000 square feet in two towers. The project will take almost three years for its completion, from the date of the commencement of construction.

Anticipating the IT sector to regain its recession-waned glory, Parsvnath will be investing Rs. 135 crore in the IT park project. The company expects to realize nearly Rs. 350-Rs. 370 crore from its investment.

Regarding the company's expectations, Parsvnath chairman Pradeep Jain, said: "The decisive mandate in the elections assures us that a stable government without any backward pull from allies will ensure a robust economy. I am confident we will witness tremendous response from prospective customers for our IT Park."

Jain said that the national capital-based company, which has marked its presence in 50 cities of 17 states, has ventured into the IT Park arena largely because of the strong growth potential of the IT/ITeS sector.

Out of a total over 200 million sq ft developable area the Parsvnath possesses, and 43.62 million sq ft has been sold, and 81 million sq ft is under construction. Recently, Parsvnath had also announced its Rs 212 crore-investment plan of building a township project, stretched over 162 acres at Panipat in Haryana.