Five Realty Giants Vie for Rs 100-Crore Bathinda Hotel Project
Five prominent real estate companies, including B L Kashyap and Sons, are set to compete for the development of a prestigious Rs 100-crore five-star hotel in Bathinda, Punjab. This ambitious project is attracting significant interest from major players in the hospitality sector.
The other three companies that have expressed keen interest in this high-profile development are Chalet Hotels Limited, Ashiana Homes, and Spirit Global, as confirmed by a Punjab Infrastructure Development Board (PIDB) official.
Project Details: A Public-Private Partnership
The Punjab State Electricity Board (PSEB), working through the PIDB, had planned to develop this five-star hotel project in Bathinda under a Public-Private Partnership (PPP) model. This will utilize a Build Operate Transfer (BOT) basis, signifying a long-term commitment to the region. IL&FS Infrastructure Development Corporation (IDC) serves as the project development advisor to the Punjab government, bringing its expertise to this large-scale endeavor.
Scope of Development: A Comprehensive Undertaking
Slated to be constructed on a 3.10-acre plot, the chosen developer's responsibilities will encompass a wide range of activities. These include meticulous planning and innovative designing, robust engineering, and securing the necessary financing. The scope also extends to the construction itself, as well as the subsequent marketing, operation, and overall management of the hotel facility. The developer’s investment will be recouped through revenue generated from diverse income streams. This comprehensive approach ensures the project’s long-term viability and success.
Next Steps: Technical Evaluation and Detailed Proposals
The technical evaluations of the participating companies are anticipated to be finalized within a week. Following this crucial assessment, the selected firms will be requested to furnish detailed proposals, outlining their specific plans and strategies for the landmark project. This meticulous process ensures the selection of the most suitable partner to bring this significant development to fruition.