Kashmiri businessmen are out to scale new heights and contribute towards Prime Minister Narendra Modi’s vision of making ‘Bharat Viksit’ by 2047. A consortium backed by a top-notch businessman of the Valley, Mushtaq Chaya recently won Sangarmal land auction for Rs 421.75 crore. One of the biggest bids won by a group backed by a local entrepreneur in the present times.The winning of Sangarmal bid was much more than a real-estate transaction. It represented a significant vote of confidence in Srinagar’s economic future. The property, located in one of the city’s most prominent commercial areas, lies close to Polo View, Lal Chowk, the Kashmir Golf Course and Dal Lake. Its strategic location gives it enormous potential to become a major commercial, hospitality and entertainment destination.The project is something big for Kashmir as the consortium plans to build a hotel, shops, banquets, restaurants and exclusive retail spaces there. An international mall in Kashmir. 

The proposed project is expected to involve an overall investment of around Rs 1000 crore, including the Rs 421.75-crore bid and approximately Rs 650 crore in construction and development. It’s expected to generate 10,000 jobs and would have the parking space for nearly 5000 vehicles, largest in the City Centre. Such an ambitious project would have a tremendous effect on the local economy.Large investments create........

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