The Indian regulators have brought about amendments to Indian Exchange Control Regulation as well as tax laws which has led to opportunities for real estate investment trusts (REITs). The efforts of the regulators have yielded results since REIT market in India has captured the attention of various investors
The company, part of the Larsen & Toubro group, occupies a total of 500,000 sq ft in Hardy Tower and Neville Tower in TRIL Infopark in Ramanujan IT City, and had signed a long-term lease during 2014-15.
The company has signed a binding agreement for the acquisition of the balance 14.28 per cent equity interest in ELEL from the Nanda family, Indian Hotels Company Ltd (IHCL) said in a filing to BSE.
Ginger’s 20 in-the-pipeline hotels with around 2000 rooms will come up in markets like Kolkata, Mumbai, Chennai, Goa, Udaipur, Amritsar, Nagpur and Patna. The company is also looking at hotels in locations such as Agra, Chandigarh, and Aurangabad.
Under the new tourism policy, which is set to come before the state cabinet on Tuesday, all subsidies for fresh projects will be routed to fresh locations where the sector has been unable to reach its potential.
