In the limited time left for the Games, the question at this stage is not so much how much additional funds are available, but how many projects can actually be launched and completed in time. The fact is that the entire city depends on the successful handling of this event. In terms of real estate, there are a lot of hopes riding on the boost that the Games will give the sector. However, a lot more than mere property potential hinges on them. Given the facts that the Government is aware of Delhi’s level of economic dependency on the Commonwealth Games and that conformity to the infrastructural parameters laid out by the Games’ planning committee is mandatory, one can assume that everything is being done to have the Games Village ready in time. Finally, however, all depends on the level of commitment adopted and the extent of implementation exercised in the relevant quarters. What can be said beyond a shadow of doubt is that the city’s inability to deliver on this would spell a serious setback for the real estate sector in the Delhi region.
Priya Paul, chairperson, Hotel
Association of India (HAI)
Delhi is expecting 100,000 visitors for the forthcoming Commonwealth Games scheduled to be held in October 2010. In so far as the hospitality infrastructure is concerned, the additional demand for hotel rooms for the Games is estimated to be 30,000 rooms. This demand is to be met through various initiatives taken by the Government. Incentives for hotel projects that would see completion and become operational before the Games in the NCR region were provided in the Union Budget 2007/08. Hotel Sites were identified for auction by various land authorities namely DDA, NOIDA and Greater Noida. About 39 hotel projects with a capacity of over 6000 rooms are in various stages of completion. DDA also increased the FAR for hotels from 225 to 250 to enable existing hotels to add capacity.
With an eye on the accommodation requirement for the Games, The Ministry of Tourism has floated a Bed and Breakfast Scheme under which it has inspected and recognized several guest houses in the city. In a recent decision, more than 5000 DDA flats are being readied to receive the visitors to the Games. These would compare to accommodation in a 3 star category hotel. There is also a plan to put up deluxe tented accommodation to meet the gaps in demand and supply. All major hotels in the NCR are in the process of upgrading facilities to showcase the best in Hospitality to the visitors to the Games and are in the process of signing a Memorandum of Understanding for the provision of rooms with the organising committee. The Games are a matter of national pride and honour and India and Delhi will surely put its best foot forward as has been done in the past for similar events.
More : expressestates.in
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