The Tata Group-owned Indian Hotels Company (IHCL) has announced an investment of ₹2,500 crore to develop a new 330-room hotel in Mumbai. Named “Taj Bandstand,” construction of the property is set to commence this year and is expected to take more than three years to complete, according to IHCL’s Managing Director and CEO, Puneet Chhatwal.
The project anticipates generating direct employment for 1,000 individuals, while indirect jobs, including those for cab drivers and other service providers, will push the total employment impact to over 7,000. IHCL had acquired the property for ₹680 crore and subsequently demolished the existing structure.
Chhatwal stated that the ₹2,500 crore investment includes the land cost and confirmed that all major approvals for the project have been secured, with only a few minor clearances pending.
A groundbreaking ceremony for the new hotel occurred Monday, attended by Maharashtra Chief Minister Devendra Fadnavis and Tata Sons Chairman N Chandrasekaran.
IHCL already operates Taj Lands End, located adjacent to the upcoming property, with a road separating the two sites leading to the historic Bandra Fort.
Mumbai, India’s financial hub is home to four IHCL properties, including the iconic TajMahal Palace near the Gateway of India, which marked the Tata Group’s entry into the hospitality sector.
