Saboo Sodium Chloro Ltd's arm receives Land Conversion Order for Samskara Udaipur Luxury Resort Project

Saboo Sodium Chloro Limited, through its wholly-owned subsidiary Samskara Resorts Private Limited, is pleased to announce that the Udaipur Development Authority, Rajasthan, has issued the land conversion order in respect of the Company's land parcel admeasuring approximately 23,310 square metres, for use as a tourism unit. This marks an important regulatory milestone for the Company's proposed Samskara Udaipur luxury hospitality project. The project is strategically located near Udaipur's Maharana Pratap Airport (UDR) and Taj Lalit Bagh with scenic views of the Aravallis.

The Company proposes to develop the site as a luxury resort project comprising up to 300 rooms, as may be permissible under applicable guidelines, development control regulations, building plan approval and other statutory approvals. The proposed development is expected to include restaurants, large-format event and banqueting spaces, wellness and recreation facilities, landscaped areas, back-of-house facilities and other hospitality amenities.

The Company has appointed Maithel & Associates Architects as the project architect for Samskara Udaipur. Maithel & Associates Architects is an established architecture practice, and its appointment is expected to support the Company's objective of developing a high-quality luxury resort product in Udaipur.

Following the receipt of the conversion order, the Company will proceed with the next stage of planning and approvals, including layout/building plan approvals and other customary statutory clearances. Construction and development timelines will be determined after receipt of the required approvals and fulfilment of applicable conditions.

Shares of SABOO SODIUM CHLORO LTD. was last trading in BSE at Rs. 12.24 as compared to the previous close of Rs. 12.27. The total number of shares traded during the day was 36570 in over 150 trades.

The stock hit an intraday high of Rs. 12.75 and intraday low of 12.13. The net turnover during the day was Rs. 447944.00.

Source : Equity Bulls

Keywords

SABOOSODIUMCHLORO INE440C01016 LandConversion SamskaraUdaipur LuxuryResortProject