Realty firm Parsvnath Developers Ltd today said it would build a group housing project at Indore in Madhya Pradesh,with an expected realisation of about Rs 60 crore.The realisation from the project is approximately Rs 60 crore and is scheduled to be completed by the end of 2011,the company said in a statement.The group housing project Parsvnath Premier is spread over 6.3 acres and is part of a 200-acre integrated township. The company would develop 300 units covering 4.11 lakh sq ft of saleable area.In the township, Parsvnath is also coming up with an IT/ ITeS Special Economic Zone (SEZ) spread over 76 acres.The SEZ has already been notified by the Centre.

 In the city biggest land deal, Mukesh Ambani-led Reliance group has outbid realty firms DLF and BPTP to bag a commercial plot for Rs 270 crore to build a hyper-mall at an investment of about Rs 1,000 crore.Reliance Retail plans to invest up to Rs 1,000 crore to develop a hyper-mall on this over 37,000 square metre plot in Vijaynagar area of the city, according to sources.Indore Development Authority (IDA) Chairman Madhukar Verma told PTI that technical bids of Reliance, DLF and BPTP were found qualified.He said price bids of the three companies were opened today, in which Reliance emerged as winner with highest price of Rs 270 crore.Delhi-based realty firms BPTP and DLF offered Rs 157.2 crore and Rs 150 crore respectively, Verma added.

Human Resource Development (HRD) Minister, Arjun Singh laid the foundation stone of the Indian Institute of Technology (IIT) at Indore here today. 500 acres of land have been allocated for the institution by the State Government. This new IIT will be mentored by the IIT,Mumbai, and will start classes from coming academic session.Addressing the august gathering at the ceremony, Arjun Singh said "In the first year IIT, Indore will offer courses in 3 branches of engineering: Computer Science & Engineering, Electrical Engineering and Mechanical Engineering. Each of these courses will have an intake of 40 students, thereby making a total strength of 120 students in the first year of its operation.Mr. Singh highlighted the importance of Indore by pointing out it is the only city in the country which can now boast of both an IIT as well as an IIM.