Real Estate in India

India Property

December 16th, 2007 at 6:54 am

Tatas eye property in Jaipur

While Tatas plan super luxury hotel in Delhi, Yannick Poupon, Taj Luxury hotels’ area director did not disclose the proposed investment figure.

However, a rough indication could come from another mega deal struck in central Delhi a few months back by the Leela Group, which bought a three-acre plot in Chanakyapuri, for Rs 611 crore. The 250-room super luxury hotel is expected to cost Rs 1,100 crore.

This big plan is the only one for hotel room-starved Delhi that the Taj group has at present. Poupon said Taj has bought land for building a 400-room property in Noida at a cost of nearly $2.5 lakh per room (inclusive of land cost).

It has entered into a management contract with a player in Gurgaon and will run that new property. The group has Taj Mansingh, Palace and Ambassador hotels in Delhi.

Even the Ginger Hotel, the group’s small 100-room budget hotels with tariffs in range of Rs 1,000 to Rs 2,000, are being planned for the NCR and not Delhi at present, he added. The Ginger hotels are no frills properties with the USP of offering neat and clean rooms at low rates.

Poupon added that the group is also looking for an additional property in Jaipur. The Taj Group’s Indian Hotels Company is currently building 8,000 rooms in 50 new hotels that will be ready in the next three years. By 2010, the group will have nearly 20,000 rooms.

 

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