City Lights

Viceroy Hotel to hive off Chennai projects

MUMBAI: Viceroy Hotels VHL has said its board has approved hiving off its Chennai project into a separate company,a move that will cut debt on its balance sheet. In a filing to the Bombay Stock Exchange,VHL said its board has approved to hive-off the Chennai Project Division comprising Chennai Hotel Project and Chennai Residential Project.

Leela to upgrade Goa property

NEW DELHI: Hotel Leelaventure has said it will invest Rs 100 crore to upgrade its property in Goa this year and is looking to expand presence in India by opening new company-owned properties and taking up management contracts. We are open to opportunities for management contracts to establish an all India footprint. We could look at locations such as Kolkata,where we do not have any presence right now and additional properties in Bangalore and Mumbai, Hotel Leelaventure vice-president marketing and sales Sanjay Pasricha said.

CREDAI seeks modifications on Bill

CHENNAI: The Confederation of Real Estate Developers Association of India CREDAI has sought modifications on the proposed Model Real Estate Regulatory Authority Bill,saying all stakeholders should be brought under it. CREDAI national president Lalit Kumar Jain,who recently assumed office said the licensing authority,consumers,finance and the developers should be brought under the bill. Currently only developers are included under the Bill. Wwhat we need is to bring in all the stakeholders under one umbrella, he said.