A prominent Real estate builders & construction company, Arihant Superstructures Limited planning to make its entrance in the hospitality business by creating allowance income from businesses including a hotel, gymkhana and club.
On this, the Real estate developer is setting up to build 30 lakh sq ft of real estate near MTHL (Mumbai Trans Harbour Link) and the forthcoming Navi Mumbai International Airport with estimated revenue of Rs. 3,000 crore.
In accordance with the company, the first project for its hospitality venture will be part of its project named World Villas and Club 10 gymkhana in the Panvel area, Navi Mumbai. The projected plan is to encompass a 221-key hotel on 9 acres and one more sports club and a gymkhana on 10.5 acres.
Apart from the offering rooms on rent, the gymkhana would have a revenue flow of membership fees with added revenues from the deal of food, drinks, entertainment and sports venue sales, whereas the hotel would be situated as a wedding destination events and a preferred location for corporate events.
Arihant Superstructures looking forward to that the project would require an outlay of Rs. 250 crores. Currently the company is being active in affordable & mid-segment to luxury housing in the areas in the vein of Navi Mumbai, Panvel, Karjat and so on.
As demonstrated by Chhajer, Chairperson & MD, Arihant Superstructures, the company expects the Navi Mumbai residential real estate market to grow steadily. He says, "On account of MTHL, we have increased prices 5 percent. Even when the Navi Mumbai airport is operational, our price rise will always be in the minimal range as we do not want to harm homebuyers’ sentiment”.
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