Notwithstanding the slowdown, city-based developer Ambuja Realty plans to unveil three new real estate projects in West Bengal this year, a top company official says.
The projects comprise a 150-room hotel, a mall and an IT park at Rajarhat on the northeastern fringes of the city.
“We will invest Rs.250 crore (Rs.2.5 billion) for building the hotel and the mall, and Rs.300 crore (Rs.3 billion) for Ecospace,” Ambuja Realty chairman Harshavardhan Neotia said.
The construction work for the mall and the hotel started in 2006 and for the IT park, called Ecospace, in 2007. The IT park is being built in association with Bangalore-based corporate real estate developer RMZ Corp.
“All these projects will be ready in another four to five months,” Neotia said.
Ambuja Realty is engaged in construction in residential and commercial sectors, which includes IT parks, retail malls, special economic zones, theme parks, hotels and banquets, and education and healthcare centres.
Apart from these, Neotia said there are at least three projects - an IT park and hotels - for which the company has got the land clearances from the government.
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