The fourth highest leader in hospitality sector, Leela Palaces is now making an entry in real estate sector with its branded residential project Leela Residency, after launching premium resorts and hotels. From Leela Group, a new luxury hotel which features 258 rooms is also under the pipeline.
When both new residential project and hotels will be under the department of Leela, Bhartiya Urban will manage the infrastructure development. Bhartiya Urban is the brainchild of topmost group Bhartiya. By the end of this financial year, the hotel construction will be started and it will have around 80000 sq. ft. of grand banqueting and convention center, according to Bhartiya Urban CEO, Arjun Aggarwal. Bhartiya Urban is the holding venture of Bhartiya City Developers.
According to other sources, Leela Group will invest around Rs. 600 Crore on both residential project named Leela Residences and a hotel. Both properties will be developed under the township of Bhartiya City.
Leela Residences will have all the modern and world-class amenities such as home automation, DG backup, clubhouse, gym room, water treatment, landscape garden, TV with broadband connectivity, concealed electrical wiring, wardrobe, high speed lifts and RCC framed structure.
Bhartiya City is a $2 billion township which was introduced by Bhartiya Group. It is an integrated township of over 125 acres with IT SEZ components in Bangalore. For the operation of 250+ room hotel, they have tied up with Leela Group and it is planned to become the part of it.
This project lies in BBMP limits and the Perkins Eastman, New York has masterplanned the township and the architects are RSP Bangalore, Broadway Malyan from Singapore and Edifice Mumbai.
According to master plan, the township will feature 8 districts, mixed use residential, retail and entertainment townships, residential districts, certified SEZ with international school, ready-to-use office spaces, hospital and community space.
According to Bhartiya Group CEO, Sasi Madathil, the design-specific innovation has been implemented to a real estate project. The entire project is proposed to complete in around 8 to 10 years. For the operation of the hotel, the developer will raise around Rs. 250 crores on construction.
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