By Bikramjit Ray
HOTELIER’S IN the NCR were reticent about reacting to the news that the Urban Development Ministry had okayed a proposal which allowed building of residences in hotels in Delhi as a part of its review of Master Plan of Delhi-2021. The report, which was published in the Economic Times, states that the construction would be allowed after permission outside of Lutyen’s Delhi and in areas that fall under the Delhi Development Authority.
A cautious Umesh Saraf, Managing Director- Unison Hotels Pvt. Ltd. (the company which owns the Grand, Vasant Kunj, one of the hotels which fall under the purview of the new proposal told us, ’This proposal is bound to bring in some respite in the industry by bringing down the capital cost and in turn making the investments commercially viable. This long-standing request will prove to be a beneficial move from the entire industry viewpoint. I do hope this model would be encouraged in all states and not stand just limited to the capital.’
The Leela Palace, another hotel which is part of a group in the midst of the disinvestment according to inside sources, did not get back to us, while Hyatt Regency, New Delhi were also non-committal when contacted.
It seems everyone is waiting and seeing what the impact is actually going to be and no one wants to rock the boat right now.
According to the report, which appeared in the Economic Times, hotel developers of the specified zone in the city will be allowed to use up to 40 per cent of the floor area ratio (FAR) for commercial offices, retail and service shops and residential accommodation, with the last constituting 20 per cent of the FAR or eight per cent of the total. This is a huge change from earlier, when hotels were only allowed to use 20 per cent of FAR for commercial use.
Photo: The Leela Palace, New Delhi, one of the hotels which fall under the purview of the new rule did not react to the ruling.
The author is Executive Editor, BW Hotelier.
HOTELIER’S IN the NCR were reticent about reacting to the news that the Urban Development Ministry had okayed a proposal which allowed building of residences in hotels in Delhi as a part of its review of Master Plan of Delhi-2021. The report, which was published in the Economic Times, states that the construction would be allowed after permission outside of Lutyen’s Delhi and in areas that fall under the Delhi Development Authority.
A cautious Umesh Saraf, Managing Director- Unison Hotels Pvt. Ltd. (the company which owns the Grand, Vasant Kunj, one of the hotels which fall under the purview of the new proposal told us, ’This proposal is bound to bring in some respite in the industry by bringing down the capital cost and in turn making the investments commercially viable. This long-standing request will prove to be a beneficial move from the entire industry viewpoint. I do hope this model would be encouraged in all states and not stand just limited to the capital.’
The Leela Palace, another hotel which is part of a group in the midst of the disinvestment according to inside sources, did not get back to us, while Hyatt Regency, New Delhi were also non-committal when contacted.
It seems everyone is waiting and seeing what the impact is actually going to be and no one wants to rock the boat right now.
According to the report, which appeared in the Economic Times, hotel developers of the specified zone in the city will be allowed to use up to 40 per cent of the floor area ratio (FAR) for commercial offices, retail and service shops and residential accommodation, with the last constituting 20 per cent of the FAR or eight per cent of the total. This is a huge change from earlier, when hotels were only allowed to use 20 per cent of FAR for commercial use.
Photo: The Leela Palace, New Delhi, one of the hotels which fall under the purview of the new rule did not react to the ruling.
The author is Executive Editor, BW Hotelier.
_20241125172338_original_image_12.webp)
_20241125154543_original_image_21.webp)
_20241125152501_original_image_3.webp)
_20241125151146_original_image_24.webp)
