Latest news with #LemonTreeHotel
Time of India
21-07-2025
- Business
- Time of India
Investment summit laid base for state's multi-sector growth: CM
1 2 Guwahati: CM Himanta Biswa Sarma on Monday said the Advantage Assam investment and infrastructure summit, held in Feb, laid the foundation of the state's transformation into a major multi-sector growth engine. Himanta stated that the state cabinet recently gave its approval to allot govt land for a 500-bed super-speciality hospital and a five-star hotel, which, he said, will generate over 2,700 direct employments besides boosting medical tourism and access to quality healthcare. The state cabinet last Friday approved the allotment of govt land for 336 infrastructure projects of the state govt, 45 infrastructure projects of corporations and boards, 3,247 non-individual juridical entities, and 28 central govt departments and undertakings. The CM, in a post on his X handle, wrote, "Taking forward the summit commitments, the Assam Cabinet approved land for Medanta Hospital & Lemon Tree Hotel in Guwahati. " He announced the construction of a 500-bed super-speciality Medanta Hospital and a 100-bed Women and Child Hospital in the heart of Guwahati. The initiative also includes the development of a five-star Lemon Tree Hotel, marking a strategic push to enhance both medical and leisure tourism in the city. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo The projects are expected to draw a combined investment of over Rs 800 crore and generate more than 2,700 direct jobs. He said the new facilities will significantly improve access to advanced healthcare services in the region, particularly in specialised treatment and maternal care. Meanwhile, officials believe the convergence of premium healthcare and hospitality will position Guwahati as a regional hub for both domestic and international patients, while also catering to the growing demand for quality urban infrastructure in the state. The projects come as part of the state govt's larger vision to transform Assam into an investment-friendly destination with modern amenities, employment opportunities, and improved public services. Earlier, CM Sarma said the industrial landscape of Assam is set for a transformational shift, with the grand success of the investment summit — Advantage Assam 2.0 — which attracted investments worth at least Rs 4.5 lakh crore. The CM, while inaugurating a private hospital set up here pursuant to the agreement signed with the state govt during the Advantage Assam 2.0 summit, said the state govt, aiming to enhance investment across various sectors, signed several MoUs during Advantage Assam 2.0, most of which are now at different stages of implementation. "While some companies have already commenced operations and others have inaugurated their projects, a few have initiated discussions with the govt to take their plans forward," he added.
Time of India
08-07-2025
- Business
- Time of India
50% from riverfront plot rights sale to go to govt
Ahmedabad: As the Sabarmati Riverfront Development Corporation Ltd. (SRFDCL) approved a bid on Oct 28, 2024, to sell development rights for a 4,420 sq m plot near Vallabhsadan on the western side of the riverfront for Rs 156.13 crore, 50% of the total revenue from sale will go to the state govt. Tired of too many ads? go ad free now In 2004, when the revenue department allocated state-owned land along the banks of the Sabarmati for the riverfront development project, it mandated that 50% of the total revenue from sale of such land will have to be given to the govt, sources said. An official, speaking on condition of anonymity, said, "The state govt provided land for the project with the condition on revenue sharing. This will be implemented." On Oct 18, 2023, SRFDCL's board approved the Sabarmati Riverfront Land Disposable Policy 2023. Under this, the land for sale on the riverfront was divided into eight value zones, and sale of their development rights was opened. However, the policy was amended in Jan 2024, dividing the 1.49 lakh sq m of land for sale into seven value zones. Based on the GIFT City model, the base price for each value zone as well as the base price for development rights in each value zone were also determined. The state govt them granted approval to the policy. On Sep 13, 2024, SRFDCL issued an RFP (request for proposal) to sell development rights for two plots on the riverfront — one near Vallabhsadan on the western side and the other near Lemon Tree Hotel on the eastern side. For the 4,420 sq m plot near Vallabhsadan, it was decided to sell development rights for 60,050 sq m of construction, with the base price set at Rs 23,676 per sq m. Two companies submitted bids, with a Mumbai-based company brought the rights making the highest bid of Rs 26,000 per sq m. Tired of too many ads? go ad free now Meanwhile, it was decided to sell development rights for 41,385 sq m of construction on the 3,045 sq m plot near Lemon Tree Hotel. The base price for construction was set at Rs 20,833 per sq m, but the auction was cancelled due to a single bid. SRFDCL sources said, "The sale of 60,050 sq m of built-up development rights for a 4,420 sq m plot on the western side of the Sabarmati Riverfront was conducted with a Mumbai company. "Meetings were held between representatives of this company and SRFDCL officials, where the bidder company requested changes to the construction plan outlined in the original RFP. llegal changes to the RFP were made, benefiting the bidder company by crores of rupees. Changes to the construction plan were made specifically concerning public utility."
Business Standard
14-06-2025
- Business
- Business Standard
Lemon Tree Hotels signs new property in Arunachal Pradesh
Lemon Tree Hotels has announced the signing of a new property in Itanagar, Arunachal Pradesh. The property will be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels. Lemon Tree Hotel, Itanagar will feature 70 well-appointed rooms, a restaurant, a bar, a banquet hall, a meeting room, a swimming pool, a gym, a spa, and other public areas. Donyi Polo Airport, Itanagar, is approximately 25 km from the property, while Naharlagun (Itanagar) Railway Station is around 12 km away. The hotel is also well-connected by road, offering easy access to both public and private transportation. Lemon Tree Hotels (LTHL) is one of the largest hotel chains in India and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale, and economy segments. The group offers seven brands to meet guests needs across all levels, viz., Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels. Lemon Tree Hotels reported a 26.37% jump in consolidated net profit to Rs 84.64 crore, while revenue from operations rose 15.64% to Rs 378.51 crore in Q4 March 2025 over Q4 March 2024. The scrip rose 0.51% to end at Rs 138.55 on the BSE on Friday.
Time of India
02-05-2025
- Business
- Time of India
GIFT City plot rights 38% pricier than those at riverfront
Ahmedabad: Development rights for plots in Gandhinagar's GIFT City are 38% costlier than for Ahmedabad's iconic Sabarmati Riverfront project . The Sabarmati Riverfront Development Corporation Ltd, managed by Ahmedabad Municipal Corporation, recently sold development rights for a commercial plot at Vallabhsadan on the riverfront for Rs 26,000 per sq m. In contrast, GIFT City last month issued a request for proposal (RFP) for selling development rights for two plots, with a base price for residential development rights set at over Rs 36,000 per sq m. The residential plot in GIFT City is priced at Rs 3,383 per sq ft. On Sep 13, 2024 SRFDCL issued an RFP to sell development rights for two plots on the riverfront. An auction was announced for a 4,420 sq m plot near Vallabh Sadan in the western part and another 3,045 sq m plot near Lemon Tree Hotel in the eastern part of the riverfront. The rights for the plot near Vallabh Sadan were set to sell for 60,050 sq m of construction, with a base price of Rs 23,676 per sq m. Two companies bid, with a Mumbai company acquiring the rights by the highest bid of Rs 26,000 per sq m. On Oct 28, 2024, SRFDCL approved a bid of Rs 156.13 crore for selling development rights for the plot near Vallabh Sadan. The base price for its development rights was evaluated according to the Sabarmati Riverfront Land Disposable Policy, bringing it to Rs 32,500 per sq m. Meanwhile, rights for the plot near Lemon Tree Hotel, on sale for 41,385 sq m of construction, had a base price of Rs 20,833 per sq m. However, the auction had to be cancelled with only one bid received. On Feb 7 this year, SRFDCL issued an RFP to develop Riverside Savouries on the riverfront for which a 27,000 sq m parcel opposite B J Park was identified, with plans to have a food zone over 6,300 sq m. Last month, GIFT City issued RFPs for selling development rights for plots in the Domestic Tariff Area, with plot 41A and 41B having a footprint of 3,129 sq m and development rights for 613,000 sq feet. Construction can reach up to 67.40m in height, with a base price of Rs 3,383 per sq foot, equivalent to approximately Rs 36,414 per sq m. The total base price for these development rights is set at Rs 207.37 crore. Additionally, GIFT City plans to sell development rights for a 1,244 sq m plot with a 41,000 sq m foot print and rights for 100,000 sq ft, also priced at Rs 3,383 per sq ft. The base price per square metre for these plots exceeds that of a sold plot's development rights on the Sabarmati Riverfront.
