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12 Luxury Hotels to Come in GujaratWednesday, February 14, 2007
With Gujarat real estate seeing appreciation quite rapidly and offering great tourist potential, more and more entrepreneurs from hospitality sector are settling down for the development of as many as 12 new hotels in different parts of the state. Indeed, these private investors have already acquired the land for their respective hotel projects. The entrepreneurs had signed memoranda of understanding (MoUs) to develop five-star hotels across Gujarat at the Vibrant Gujarat Global Investors’ Summit held at the Science City near Ahmedabad in January. Of total 12 hotels, at least six of them have been lined up to come in and around Ahmedabad. At present, there are just two decent five star hotels – Taj Ummed and Inder Residency in Ahmedabad, which have been given the five-star status by the Centre. The investors who have inked MoUs are the renowned ones, and are likely to complete the construction work in 2-3 years thereby offering a major facelift to Gujarat, says RM Patel, Principal Secretary (Tourism). Set up of these new hotels will also cater to requirements of increasing tourists by bringing improvements in infrastructure. The owners of Ahmedabad based Crown Plaza are coming up with a five star hotel worth over Rs. 125 crore in the posh Judges’ Bungalows locality of Ahmedabad. The group has acquired a 10,000 sq. m plot of land for a whopping amount of 70 crore from the Ahmedabad Urban Development Authority. Another Ahmedabad based Srina Hotel Pvt. Ltd. has acquired
12,000 sq m of land to develop a luxury hotel near Kudasan on
the Ahmedabad –Gandhinagar highway, with the total cost
of the project to be estimated at Rs. 200 crore. NRIs are also looking forward to make a killing from the rising
trend of making speculative investments into the hospitality sector.
The example has been set by US based NRI
Rocky Israni, who has bought a five star hotel at a cost of Rs.
85 crore at Ramdevnagar Crossroads in Satellite area of Ahmedabad.
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