According to livemint.com, real estate developer BPTP Ltd has plans to come up with a five star hotel property on its plot of land in Noida. The company is said to be in discussions with major hotel groups regarding a management contract for the hotel. the deal is expected to be complete in two to three weeks.
BPTP aims to build the property before the Commonwealth Games 2010 so that it can avail of the tax benefits. Of the 21.7 acres of land that the company owns here, the 500 room property will come up as part of the six acres that are to be developed in the first phase. This first phase will see an investment of Rs 600 Crore.
Source : hospitalitybizindia.com
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