Lagatar24 Desk
Ranchi: In a significant boost to Jharkhand’s hospitality sector, the Taj Group has officially acquired a 6-acre land lease in Ranchi for the construction of a luxury five-star hotel. The lease process was completed on July 28 at the city’s registration office, clearing the way for the hotel’s groundbreaking ceremony expected in November.
60-Year Lease Finalized for Smart City Location
The hotel will be built in the Core Capital Area of Ranchi’s Smart City project. The lease has been granted for 60 years, and the Taj Group has paid ₹4.2 crore as stamp duty and fees to the state government. The project, to be undertaken by Indian Hotels Company Limited (IHCL), is estimated to cost ₹400 crore and is expected to be completed within four years.
Premium Hotel to Offer Employment and Boost Tourism
The upcoming Taj Hotel will feature around 200 rooms and include amenities like a banquet hall, wellness center, swimming pool, and landscaped gardens. Its planned height is 27 meters with 40% ground coverage. The government expects the project to create indirect employment for approximately 1,000 people. The development follows an MoU signed on July 24, 2024, between the Jharkhand Government and IHCL, witnessed by Chief Minister Hemant Soren and Tata Steel CEO T.V. Narendran.
