The Prideasia site at Rajiv Gandhi Chandigarh Technology Park bears a deserted look. As the billboards, glowsigns and signboards of the Rs 821-crore project, being developed by real estate giant Parsvnath, lie torn on the sides, nothing appears to be moving on the location. A few trucks, which are used for loading and unloading of construction waste (malba), are parked at the site. When asked, a security guard at the site said that work is completely stalled.

P K Jain, Adviser, Parsvnath, vented his anger saying: “What do you want to know now, when everything is ruined? Why are you asking me who is responsible for this mess? We had sent a letter to Chandigarh Administration asking it to clear its stand on the issue and are awaiting a response till date.” In December 2008, the developer had shot off a letter to the Chandigarh Administration giving the latter three options — either to terminate ties; revise the contract’s terms and conditions or change the contract on a pro-rata basis.

Jain added: “The Administration has not even sanctioned our plans yet while we have blocked such a heavy investment here. No investor will ever come to Chandigarh, if this remains the attitude of the Chandigarh Administration.”

Refusing to reply to dozens of queries posted repeatedly to the Parsvnath group, he said: “Why should I reply to your queries? Would it serve any purpose?” Asked whether Parsvnath had plans to move court against the Chandigarh Administration, Jain replied: “What would the court do in this? We are stuck in Chandigarh and the criticism, which the company has endured in the city, has perturbed investors who are lining up for a refund.”

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