LIC plans hotel in Chennai |
By e4p Correspondent, Friday, September 04, 2009, 11:44 Hrs [IST] |  |
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Category: Hotels | Tags: lic hotel Pallavaram, lic hotel chennai, Hindustan Unilever, lic Amrutanjan | Share:  |
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Life Insurance Corporation (LIC) South Zone plans to set up a hotel on the 2.8 acre of property it has at Pallavaram, in Chennai.
According to sources, LIC is in talks with hotels chains for this venture. The property is to be developed by the company and given on long lease to the hotel chain.
LIC had bought this property from Hindustan Unilever for Rs 63 crore two years ago. It had also bought about seven acre valued at Rs 110 crore from Amrutanjan last year.
Source : ProjectsToday
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