Parsvnath Developers'1.18-acre plot at Kasturba Gandhi Margin New Delhi is up for sale and media reports suggest that Sahara Group and ICICI Bank are vying to buy the property.      
 
 The real estate developer wants to sell the land to reduce its debt, which is currently at Rs 1,300 crore and the company seeks Rs 700 crore for it.
 
 But according to reports, the interested parties are ready to sign a deal at Rs 600 crore. Parsvnath bought the land in 2008 for about Rs 200 crore, with the aim of constructing a retail-cum-office complex. But the company changed its plan and decided to sell it to trim its loan. It is learnt that property consultant Jones Lang LaSalle is advising Parsvnath on the deal.
 
 According to sources, ICICI is exploring the possibility of constructing a corporate house in the locality in partnership with Parsvnath, without acquiring the land.
 
 Earlier, as part of its fundraising exercise, the company had entered into various deals with private equity funds.