Hospitality major Indian Hotels Company has announced its entry into Bhopal with the signing of a new 150-key hotel, Vivanta Bhopal, through a management contract with Genex Hotels.
The company said the contract is in line with its strategic expansion plans for aggressive growth. This will be its first hotel in the MP capital.
“Consolidating presence in key capital cities is an important pillar of our domestic expansion strategy. With rapid urbanization, and growth, Bhopal offers immense potential for both leisure and business travellers,” company’s senior vice-president for real estate & development Suma Venkatesh said in a statement today.
Spread over four acres and located near the Van Vihar National Park, the hotel will comprise 150 guest rooms.
Ambuja Cement, part of the Swiss cement giant LafargeHolcim, will invest Rs 1,391 crore to set up a greenfield clinkerisation plant in Rajasthan.
The board of the company in its meeting held on Tuesday has approved the proposal to set up 3.1 million tonnes clinkerisation plant at Marwar Mundawa in Rajasthan.
The first phase of the plant would be commissioned in next two years.
“The board of directors have approved an initial investment of Rs 1,391 crore towards the first phase of 1.7 million tonnes capacity which is expected to be commissioned in the second half of 2020,” said Ambuja Cement in a statement.
At present, Ambuja Cement has a cement capacity of 29.65 million tonnes with five integrated cement manufacturing plants and eight cement grinding units across the country.
CP Kukreja Architects, a Delhi-based architect firm, plans to grow by 20-25 per cent in the next 2-3 years, majorly driven by tenders of government projects, said Dikshu C Kukreja, founder of the company.
Kukreja claims that the company registered 50% year-on-year growth in 2017 thanks to it winning the tender of Pragati Maidan redevelopment and Dwarka Convention Centre.
“In 2010, about 70 per cent of our revenue used to come from private contracts while 30 per cent came from government tenders, by 2017 the scenario has completely reversed,” said Kukreja.
He agreed that the slump in the real estate sector did have a negative impact on overall business of the firm. “We were associated with many prominent developers especially in the National Capital Region (NCR), which defaulted in their payments to us. We are yet to receive the payments from them are awaiting their disputes to be resolved.”
The company is also looking for international contracts to expand beyond India. Currently the international contracts form 5% of total revenue share which it aims to grow to 20-25% in the next 3-4 years.
“We plan to open new office in Kuala Lumpur, Malaysia and also are in talks to take up few government and private projects in Myanmar and Bhutan,” said Kukreja.
An entire street near Korattur railway station has been taken over by unauthorised buildings. Despite a 2007 Madras high court order, the Greater Chennai Corporation is yet to remove the illegal structures that belong to former Ambattur legislator S Vedachalam of the AIADMK and his wife V Mohana.
Due to the construction of a subway at the railway station, the encroachment has come under the spotlight now.
When contacted, Vedachalam said he owned the land upon which the unauthorised buildings have come up. However, revenue department records indicate that the 100m stretch, which is 30 feet wide, is a public road. “The land belongs to me. But now the state government is about to take over my land for construction of the subway, I am fighting to get compensation,” he said.
The illegal structures have come up on the public road (Town Survey No. 32) abutting the South Railway Station Road. Half of the 100m stretch has been encroached upon by Vedachalam while the rest of it has been gobbled up by a private builder.
Vedachalam constructed a commercial building and a cycle stand in 2005, while the builder erected a flat more recently. As the occupants of the illegal structures do not have an approach road, they have made a passageway through the adjoining buildings.
In 2007, the Ambattur municipality deemed the structures illegal and delivered a demolition notice to Vedachalam who challenged the notice in the Ambattur municipal court. In 2009, the Madras high court asked the lower court to dispose the case at the earliest. However, according to a corporation official, Vedachalam stalled proceedings by failing to appear for subsequent hearings at the Ambattur court.
Ever since the announcement of Chhatrapati Sambhaji Raje International Airport in Purandar was made, several real estate agents have started circulating the facility’s “official map” with a view to selling neighbouring land. The Pune district administration has issued an alert to citizens, asking not to fall prey to such sales.
The authorities have even stated that they have not issued any official map of the proposed airport so far. They have further clarified that bogus maps are being circulated on real estate websites and social networking sites like Facebook or WhatsApp.
Lately, developers have been inserting pamphlets in newspapers and putting up advertisements on hoardings, city buses and autorickshaws to woo investors. These advertisements even state that the plots are government-approved and located just few kilometres from the proposed airport site.
Sachin Giri, Purandar tehsildar, informed, “The new international airport drives economic growth around its location. It is only natural that the area around a proposed international airport experiences a surge in demand. However, investors must be mindful that the airport is still in the planning stage and due caution must be exercised before any decision is made. The district administration has not issued any such map till date. The investors should not believe in such fake documents. These maps are being circulated on social networking sites and are not authorised by us. This is a deliberate attempt to misguide people.”
Giri said that all the decisions are taken by the higher authorities like the district collector and Maharashtra Airport Development Company Ltd. (MADC).
He continued, “Even local authorities are not aware about the possible map. Before finalising any such deals with the agents, the investors must ensure the location is correct according to the neighbouring villages. They must also verify the proximity of the plot to the proposed airport. They must also ensure that these lands are not part of the villages where the airport is proposed as those deals will be declared null and void.”