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MDLR group to take up Rs. 1000 crores hospitality projects in NCR

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As per the sources available with www.propertykhazana.com, on the somber lack of hotel rooms in the capital and in close by areas along with the demand emerging to exceed supply many new players from hospitality industry are in queue to launch their ventures. Gurgaon based MDLR Group is the latest one to join the competition and it is setting up to develop 4 lavish hotels with a planned investment of Rs. 1,000 Crores for coming 3 years.
MDLR has selected Manesar, Shimla, Jaipur and Gurgaon as perfect places to launch hotels and property for 2 hotel spaces in Gurgaon and Manesar which had purchased in 2006 from HSIDC, said Gopal Goyal, Chairman of MDLR Group to the www.propertykhazana.com . Gurgaon hotel is coming up in a locality of 11 acres and property has a market value of Rs. 350 Crores which is two times the value purchased at. It was achievable because of the high land rates.
Development work of the Shimla Hotel will start in coming 3 months by the NCR properties and the group is planning the 2010 Commonwealth Games. The revealed sources said the www.propertykhazana.com that there is lack of about 30,000 rooms in Delhi and NCR; needlessly most of the realty developers were setting up to cash in on this scarcity. Group has extended its horizons to aviation segment with MDLR Airlines and has worked on its initial take off on Delhi-Chandigarh segment. Afterwards Airline will be spread to Ranchi, Surat, Jaipur, Bhavnagar, Kolkata and Mumbai.
Source: NIMMA BENGALURU

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