State Govt. after revoking the Urban Land Ceiling (Regulation) Act (ULCRA), Godrej Group is proposing to take on an incorporated development plan for Rs. 7,500 Crores. Adi Godrej, Chairman of Godrej Group said to www.propertykhazana.com that, “By incorporated development, we will be a sign of housing, hospitals, health care, offices, IT and so on. It might also comprise renewal of the group’s proposals to construct a superlative exhibition hub, a plan which has been waiting for long time. We have continuously been in talks with the Govt. on the similar and are attempting to persuade to update the regulator outline. We can merely carry on with these proposals once we are clear on the expected regulatory strategy of the Govt. and we shall like to modify in the FSI regulations, so that it is hiked to what survives in other developed cities in the world. We look forward that this will follow, as ULCRA has been cancelled.”
Godrej Group is lucid on its plans and even if possessing huge acres of property in the country it is not in eager to project into hotels, said a source @ the www.propertykhazana.com. Godrej Group assumes that they do not have much knowledge in the Hotel Segment and they shall be more interested on the exhibition hub which will be one of its kinds in India encircled with services like hotels. This progress may release the sluice gate of chances for other important hotels monsters and to develop the services inside the exhibition hub where the biggest players might participate.
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