BSEL Infra to invest Rs 100 cr

In its attempt to tap the growing hospitality sector in Gujarat, BSEL Infrastructure Realty Ltd has set aside an investment of Rs 100 crore for the state.

The company has already acquired around 75 acres of land in various parts of Gujarat for its projects.

Among its hospitality projects, the Mumbai-based real estate company is developing a 4-star category service apartments of 260 rooms at Narmada Nihar, the Sardar Sarovar Dam project, 80 km from Vadodara.

BSEL Infra had acquired 10 acres from the state government for the same, apart from acquiring another 5 acres nearby.

Moreover, the company is also developing a tourist resort on a 25-acre piece of land, 22-25 km from Ahmedabad. According to Dharmendra Raichura, the land was bought recently for Rs 8 crore, while work is yet to begin on the resort.

Adding that in the next 24 months all the projects would be completed, Raichura said, "Tourism is picking up quite well in Gujarat and we intend to tap the growth by taking up hospitality projects in the state. For instance, through the hotel-cum-resort project in Ahmedabad we will try to cater to tourists as well as people who visit the city frequently on business. Although, we have acquired 75 acres, we are yet to decide on the kind of projects that could come up at these sites."

Expected to be completed by March 2008, the hospitality project at Narmada Nihar will come up at a project cost of Rs 25 crore.

As of now, BSEL Infra would set up hotels in the 4-5 star category catering to tourists and the business class, said Raichura.