The Tata Group-run Indian Hotels Company Ltd (IHCL) announced here on Monday that it will invest Rs 2,500-crore to construct a new 330-room hotel called Taj Bandstand, in Bandra West.
The construction will begin this year and it is expected to take four more years to complete, according to IHCL Managing Director and Chief Executive Officer, Puneet Chhatwal, on Monday.
A groundbreaking ceremony for the new hotel was held today in the presence of Chief Minister Devendra Fadnavis and Tata Sons Chairman N Chandrasekaran.
“IHCL opened its first hotel – The Taj Mahal Palace, in Bombay in 1903 and has for over a century woven itself into the cultural fabric of the city. Taj Bandstand, a testament to this legacy, will be the torchbearer of the iconic brand Taj for the next century. Envisioned to be a defining edifice of Mumbai’s skyline, this landmark development is a tribute to Mumbai’s spirit, its people, and its growing global prominence. We have received key pre-construction approvals including IOD and provisional fire no objection certificate. After receiving all approvals, IHCL will commence construction in 2025 and complete the project over the next four years,” Chatwal said.
Hotel Taj Bandstand is scheduled to come up on a two-acre land parcel on which Hotel Sea Rock once stood before it was bombed in the 1993 serial blasts.
Later, IHCL purchased the land for Rs 680 crore and demolished the structure completely. IHCL already runs a property called Taj Lands End, right next to the upcoming hotel. A road passes between the two plots to the historically significant Bandra Fort.
Speaking at the ground breaking ceremony,Fadnavis said, “This hotel was very dear to Ratan Tata. I still remember he himself mentioned to me once that there are certain issues which we need to resolve, and we want to put up a hotel which will not just be a hotel, but it will be the pride of Mumbai. I am happy when I look at the entire planning and design of this hotel. It is going to change the skyline of Mumbai. I think all of us know that of late Mumbai has regained its position as the convention capital of India”.
The hotel project will also include development and maintenance of surrounding areas with landscaped gardens, sporting and recreation activities as well as entertainment facilities.
After the addition of Hotel Bandstand, IHCL will end up running 17 hotels in Mumbai, including five which are under development.