Taj Hotel Resorts and Palaces, the Tata Group company, has won the bid for
setting up a five-star hotel in Amritsar. The bids were invited by Punjab
Infrastructure Development Board (PUDA).
The 3.4-acre hotel site is part of the 32-acre City Centre owned by the PUDA.
Taj is likely to pay a minimum of Rs 4 crore per annum to the government as the
annual concession fee for the land for the next 60 years. According to sources,
work on the site is expected to begin in the next few months.
On the other hand, Tata Realty, another group company has already bought over
5.5 acre of the City Centre site during an auction by PUDA some months ago. It
intends to set up a family entertainment plaza, including malls and multiplexes.
Also See:
Taj Group
inaugurates hotel in Goa (22-May-09)