Agartala Property News

DLF to slowdown project execution, retrench 300 employees

India’s largest real estate developer, DLF, has asked 300 employees across all its centres and subsidiaries to leave. The realty major has decided to slow down its project execution, especially in tier II cities, in the face of shrinking demand and expensive borrowing. “Over the past month, around 300 employees have been asked to leave. The company had earlier decided to cut double the number, but later brought down the target,” said a DLF executive. “The management is not yet inclined to bring down rates even at the cost of losing business to rivals and has, therefore, decided to build less or no offices or malls in places where there is less demand,” the executive said.

Until a few years ago, DLF had its business concentrated only in the National Capital Region, especially Gurgaon. But the real estate boom of the past five years has seen the realty giant spread its activity across the country. The company does business through a multitude of subsidiaries and its activities span almost all segments, including housing, offices, retail and SEZs. But the global credit crisis and double-digit domestic inflation have slammed the brakes on the unprecedented realty growth in India. Indian firms are now looking for ways to deal with it. Read More>>

Tuesday, October 21, 2008  India-Realestate

Ginger Hotel opened in Agartala, Tripura

The Indian Hotels Company Limited (IHCL) today unveiled its GenNext ‘Smart Basics’ Hotel - ‘GINGER’ at Khejurbagan in Agartala in the presence of Shri. Manik Sarkar, Honourable Chief Minister of Tripura and Mr. Prabhat Pani, Chief Executive Officer,Roots Corporation Limited and other dignitaries.

This 101-room hotel in Agartala is the latest addition to the growing chain of Ginger Hotels across the country, which includes Bangalore, Haridwar, Bhubaneswar, Mysore, Thiruvananthapuram, Durgapur, Nasik and Pune. Read More>>

Wednesday, February 13, 2008  India Realestate

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