Maharasthra govt approves Rs 1,900 crore tourism project of Mahindra
Mahindra Group is to develop a Bollywood theme-based tourism project in Kandivali area of Mumbai with an investment of Rs 1,900 crore. The proposal is approved by the Maharashtra government through a Government Resolution (GR).
The project will be developed on 82,950.5 sqm area belonging to the Mahindra Group on its plot in suburban Kandivali. A high-powered government committee had earlier this year accorded it in the ultra-mega project status.
As per the state tourism policy of 2016, an ultra-mega project would require a capital investment of Rs 500 crore and to employ 750 people and complete it in 84 months. As the Mahindra Group’s project fulfills the criteria, it was accorded the ultra-mega project status.
Mahindra Group Chairman Anand Mahindra had said during the ‘Magnetic Maharashtra Investor Summit’ in February that they were exploring to set up a unique film-centric entertainment destination on their land at Kandivali, as Mumbai is the heart of Hindi film industry.
The project is expected to boost the local economy and generate employment opportunities for the locals.
Mahindra already runs a successful tour and leisure services company Mahindra Holidays.
The government also approved another ultra-mega tourism project to be executed by Yashomala Farming and Tourism Private Limited in Raigad district, according to another GR.
The project will come up on 63.37 hectare area at Roha. Nearly 53 villas will be constructed with an investment of Rs 822.93 crore and the project will provide employment to 1,014 people, it said.
