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« India Leads Real Estate Transparency Race among BRIC Nations | Home | Indian Real Estate Market Requires Rate Cut »

Unitech Plans to Invest 2,500 Cr in Hotel Industry India

Realty major UNITECH LTD (BSE:507878) plans to invest about Rs 2,500 crore (US$508 million) to develop 35 hotels across India over the next seven years. Unitech managing director Sanjay Chandra said the firm would develop 35 hotels in the next six to seven years and already had land in many cities at prime locations.

The hotels would be located in the national capital region (NCR), Kolkata, Chennai, Goa, Mysore, Bangalore, Hyderabad, Chandigarh, Siliguri and Assam.Of the total planned hotels, about 50 per cent would be located in Kolkata and the NCR, Chandra said.

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