The Haryana Urban Development Authority (HUDA) is to re-auction a prime property at Panchkula for its first five star hotel which had been put up for auction in 2008 at a reserve price of Rs. 260 crore, but failed to find any takers. The re-auction of the proposed site will be done by finalising the dates, reserve price and other terms for the project.
The five-star hotel would be a 24-storey property in Panchkula’s plush City Centre to be built over eight acres. Taj GVK, Asian Hotels (West) (promoters of Hyatt Regency, Mumbai), ITC , DS Construction, Soma Enterprise, Simplex Infrastructure, C&C Construction, Era Infrastructure, KCP Projects, Blue Coast Hotels and Resorts (promoters of Park Hyatt, Goa) and Xander Advisor India (an assets management company) have shown keen interest in opening up a five star hotel in the Panchkula.
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