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Guwahati : Indian Hotels Company Ltd (IHCL) will set up a five-star hotel in Guwahati incurring an investment of Rs 250 crore. IHCL, which owns the flagship brand Taj, has already taken 15 bighas at Khanapara in Eastern Guwahati on 90 years' land lease agreement.
Pradyut Bordoloi, Industries Minister, Assam said, "The hotel will be one of the Taj Group's upmarket, top-notch facilities and the Group will invest around Rs 250 crore. They have already set up a Ginger Hotel here. According to a report in The Financial Express, under the land lease agreement, construction of the hotel will start within six months from the date of receipt of approval of building plans from Guwahati Municipal Corporation and Guwahati Municipal Development Authority.
The facility will be operational within 48 months of execution of the deed. As per sources, in a bid to reduce its dependence on domestic metro properties in Delhi and Mumbai, which account for more than 50 per cent of IHCL, the company is looking at expanding in Tier-II and Tier-III towns in the country. According to estimates of the industry department of Assam, almost Rs 1,000 crore will be invested in the hospitality sector in the state in next two years with three more groups planning to set up five-star hotels.
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