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Ambuja Realty to adorn range of ventures in West Bengal

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Kolkata based Ambuja Realty has planned to reveal three new realty ventures in West Bengal; the ventures consist of 150 room hotel, mall and an IT Park at Rajarhat on the Northeastern periphery of the city. Ambuja Realty Chairman said to www.propertykhazana.com that, “We are investing about Rs. 300 Crores for developing the hotel and mall, Rs. 350 Crores for Ecospace and all these ventures will be completed in 5-6 months.” The construction work for the mall and hotel will commence this year, an IT Park called Ecospace in next year and the IT Park is being constructed on JV basis with Bangalore’s reputed developer RMZ Corp.
He also said that, “We can not stop any venture which is already under construction and will be fatal. We have decided that not to do new ventures till this slowdown drops.” As per to the sources saying at the www.propertykhazana.com, Company has stopped proposals for constructing three lavish hotels in the Northern part of the state. He said that, the ventures are delayed for two reasons; there are some political problems in the hills and owing to the economic crisis. The hills are seeing a political movement for a detach Gorkhaland state to cleave out Darjeeling district as well as parts of Jalpaiguri district. He said, there are three ventures, IT Park and Hotels for which the company has got the permission from the Govt. about the lasting investment proposals, which the company had put about Rs. 5,500 Crores for the coming 4-5 years and it will be reviewed.
Source: NBTVLIVE

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