102 Rooms underconstruction 3 Star Hotel For Sale

Business description

102 rooms underconstruction 3 star hotel sale at Coimbatore, Tamilnadu, India

Name of the property/project: Hotel

Description of Property:
- Extent of Land: 1.64 acres (37,060 Sq.ft.)
- Dimension:
- North: 484 ft
- South: 468 ft
- West: 138 ft
- East: 160 ft
- Frontage: 138 ft
- Width of the Road: 120 ft
- No. of Floors: G+5
- Construction Year: 2008

Area Floorwise:
- Ground Floor: 15984 sqft
- First Floor: 15121 sqft
- Second Floor: 15121 sqft
- Third Floor: 15121 sqft
- Fourth Floor: 15757 sqft
- Fifth Floor: 12020 sqft
- Terrace Floor: 1273 sqft
- Total Floor Area: 90937 sqft
- Area of Open Space: 16065 (1493 sqmt)
- FSI: 2.03

Current Status of the project/property:
- Under construction: Super structure ready
- A/C and Plastering work pending

Guest Accommodation: 102
- Standard Double Rooms: 86 Rooms (Finished Rooms = 28)
- Suite rooms: 16 (Each floor has 4 suite rooms)
- Size of Standard Double Rooms: 16 X 11 = 176 sqft
- Size of Suite rooms: 22 X 16 = 352 sqft

Banquets & Conference
- No. of Hall: 2 (1-Mini Hall & 1- Main Hall)

Swimming Pool
- Exterior with children pool

Restaurants: 2
- Size of Restaurant with pax: 350 pax
- Bar: 1

Other Facilities:
Lifts: 4
- Guest: 2
- Service: 2
Power Backup: Genset (62 KVA)
Reception & Lobby: Available
Store: Available
Hotel Management Office: Available
Kitchen: Available
Laundry: Available
Lawn: Available

Reason for Sale: Inability to administer due to age of the owner

Any Liabilities: Nil

Any Dispute: Nil

Nature of Sale: Outright (As it is basis)

Registry: Registry

Mode of Payment: 100 % white transaction

Payment Duration: 1 month

Price
- Asking Price: INR 30 Cores
- Cost to the buyer: INR 30,00,00,000 + 2% Brokerage + Service Tax
- Negotiable Terms & Conditions

Category: 3 Star

Location: Mettupalayam-Ooty Road, Coimbatore, Tamilnadu, India

Property information

Real Estate:

Real Property Included

Location:

Location: Mettupalayam-Ooty Road, Coimbatore, Tamilnadu, India

Location Advantage:
- Heart of City
- Within walking distance of all major attractions

Distance:
- Ooty: 80 kms
- Railway Station: 4 kms
- Airport: 10 kms
- Bus stand: 2 kms

Facing: West

Other information

Competition / Market:

The booming hospitality sector in India is seeing increased interest from domestic and foreign players keen to invest in hotel, resorts and serviced apartment development. The Federation of Hotel and Restaurant Associations of India (FHRAI) estimates that as compared to the present 97,000 hotel rooms in the country, India will need 30,000 additional rooms in various categories over the next three years. The current growth of hotel rooms is less than 2,000 rooms a year, and with high occupancy rates of 77%, hoteliers have doubled tariffs in the last two years. Coimbatore, Tamil Nadu's second biggest city, popularly known as the Manchester of South India, and it has been declared as a tier-2 city by the Tamil Nadu government for IT sector development. Coimbatore offered excellent potential given the rapid development of its IT, textile and automobile sectors. It is no wonder that a survey has rated the city as the tenth fastest developing city in India. The hospitality industry too is gaining momentum with the revival of manufacturing and textile sectors and prospects of new hotel chains entering the city. It is said that besides Taj group, GRT and Meridian are setting up hotels in the city. The Tatas have set up a Taj Business Hotel in Coimbatore with cost of INR 100 cr.

Reasons for selling:

Inability to administer due to age of the owner

Contact the seller