Investment Partner Wanted for the development of 7-Star Hotel in Mumbai, India.
We are looking for an investment partner for acquiring the land of 76,000 sq.ft and to convert it from Residential zone to Commercial zone for the construction of a 7 star hotel at Juhu, Mumbai.
The investment partner will be in JV on a 50% profit sharing but will not get construction rights of the hotel. The investor will have to bring in Rs. 300 Crores. One of the partners holds irrevocable power of attorney and has the right to mortgage the land.
As of now the partners have given advance to the landowner and kept on hold but not transferred/acquired on their name. These partners have entered into an agreement with Bhagwati Hotels & Banquets Pvt. Ltd for investing the total estimated fund for the construction of the hotel.
Once the land is acquired and converted from residential zone to commercial zone, Bhagwati Hotels & Banquets Pvt. Ltd will release 10% of the total fund required for the construction of the hotel. So in short we are looking for an investor just for the acquisition of the land and to convert it from 'R' zone to 'C' zone and nothing else. In return the investor will get 50% profit sharing on the whole project.
Say the profit earned after the construction of the hotel is 20,000 crores, the investor will get 50% of 20,000 = Rs. 10,000 crores for bringing in just Rs. 300 crores initial investment.
Potential investors can contact me for more information on Merar.com