Parsvnath Developers has teamed up with Hotmail founder, Sabeer Bhatia to develop a knowledge city in Panchkula. The project is known as Parsvnath Nanocity. This project is based on the public-private partnership. In this project Sabeer Bhatia has 52% shares while Parsvnath and Haryana government own 38% and 10% shares respectively.  

The state government has already designated 11,000 acres of land near Panchkula for this project. Parsvnath Nanocity will be modeled on Silicon Valley. This project will be accomplished in two phases in ten years. In the first phase 5,000 acres would be developed

The initiative for this project was taken by Sabeer Bhatia. Mr Bhatia said that in the initial phase various universities and the education centers would be invited to start their centers in the proposed city. He assured that this project would attract world-class companies involved in the creation of intellectual property. According to him this Nano city will be the future hub of software development, nano science, drug discovery, bio-technology, energy and semiconductor research. He added that idea of Nano city was idealized with the help of Haryana chief minister Bhupendra Singh Hooda.

Parsvnath will invest Rs 400 crore in the first phase of the project. Pradeep Jain, chairman, Parsvnath Developers said that Nanocity would be a landmark in the Indian infrastructure space. He was hopeful that this project will create ample job opportunities.