The Rajan Bhatwal Group, which has been trying to build its own commercial-casual development projects in Mumbai, has been looking to expand its residential development footprint and has been exploring the possibility of developing residential complexes in commercial and industrial zones, according to a person with knowledge of the development plans.
The Rajan group, which is based in Dubai, has also been working with a consortium of developers in Mumbai and is looking at building hotels and commercial premises, said the person, who did not wish to be identified.
While it has already begun exploring the development possibilities in the residential sector, it has also begun looking into commercial developments, which would include hotel projects and office space, the person added.
Rajan Bhattwal Group is the biggest developer in Mumbai but has been struggling to grow its commercial operations.
The group’s latest commercial property development, a Rs 2,100 crore commercial complex in Pune, has come under scrutiny because of the lack of planning permission for the development.
The group has also asked the Maharashtra government to take steps to regulate the commercial activity of the group.
“We have asked the government to create a committee of experts to look into the commercial viability of the project, said a Rajan spokesman.
The developer has also sought a clearance from the Mumbai Municipal Corporation to build a hotel.
The company is also in the process of acquiring land in a commercial area in Mumbai’s north-west and plans to build residential complexes there, said another Rajan spokesperson.
Rakshas, the group’s Mumbai unit, also has a large office complex in the area of New Town, a commercial corridor in the city.
It is also looking to redevelop its office complex to become a hotel and commercial space, a Raja spokesman said.
The organisation has also called on the government not to approve any development of residential complexes for the next five years.”
The residential development is going to be restricted to industrial zones,” the spokesperson said.
The organisation has also called on the government not to approve any development of residential complexes for the next five years.
The development in Mumbai has been a tough one for the group because it has been operating under a different name and has no office space.
A few weeks ago, a group of investors led by Kishore Gopalakrishnan took over the company.
The investment company, which had a debt of around Rs 2.5 crore, has already been selling the assets of the company, said Gopalachan, an advocate and founder of the Rashtriya Vikas Parishad.
Gopalachann said he was not aware of any other group that has come in to take over the Rajan Group.
“They are in negotiations with various groups.
There is no information yet on how long the process will take,” Gopalath said.