Chordia to invest Rs40cr for mall & hotel in Pune

Construction and hospitality player Chordia Group will invest close to Rs 40 crore to develop a mall and a five star hotel in Pune in the next two years.

The mall - over 50,000 sq ft in size, will be among the few planned for Pune's twin city Pimpri-Chinchwad. We are in talks with leading international players like McDonalds and Barista for opening their outlets in the mall. The mall will be made operational later this year, Ashok Chordia, chairman of Chordia Group, said. 

The group owns Ambiance Excellency, the first star hotel in the Pimpri-Chinchwad belt, and is also planning to build 60 executive suites that will cater to businessmen and corporate executives on a visit to the infotech zone of Hinjewadi nearby, Chordia said.

"We are going to spend about Rs 16 crore for the executive suites and the mall...we are banking on our proximity to both Hinjewadi and Chakan as the manufacturing sector has also bounced back and is witnessing a lot of action. The proposed international airport would be a bonus to us,"
Chordia said.

A five-star hotel- an 80 room property - at Pune's upmarket Baner locality is under construction and will be completed by September 2007. The group will invest close to Rs 20 crore to build the hotel, Chordia said.