Grand Continent Hotels Limited Enters into Lease Agreement for New Hotel
Mumbai, India – March 30, 2026 – Grand Continent Hotels Limited announced today that it has entered into a lease agreement with Mr. Baljeet Singh Sabharwal and Mrs. Bhupinder Kaur for the operation of a new hotel. The agreement, finalized on March 29, 2026, will enable Grand Continent Hotels Limited to expand its presence.The lessor, Mr. Sabharwal and Mrs. Kaur, are based in Gurugram, Haryana. The lease is for a period of nine years.
Under the terms of the agreement, Grand Continent Hotels Limited will lease a property located at Plot No 1561-P, G1 Sector 15 Part II, Urban Estate Office, Gurugram, Haryana. The property encompasses 56 rooms, along with a lobby/reception area, kitchens, a banquet hall, gym, spa, restaurant, and car park. Grand Continent Hotels Limited intends to operate the hotel under the “Grand Continent” brand.
The transaction does not constitute a related-party transaction and is being conducted at arm’s length. No further disclosures are required regarding this agreement.
| S No | Particulars | Details |
|---|---|---|
| 1 | Name(s) of parties with whomthe agreement is entered | Mr. Baljeet Singh Sabharwal and Mrs, Bhupinder Kaur having registered Office at Plot No. 1,Block G, Sushant Lok 2, Gurugram, Gurugram, Haryana 1222001 |
| 3 | Period for which the agreement is Entered | 9 years |
| 4 | Significant terms of the agreement (in brief) | - GCH shall lease the Property located at Plot No 1561-P, G1 Sector 15 Part II, Urban Estate Office, Gurugram, Haryana - The property shall have 56 Rooms, 1 lobby cum reception, Kitchens, Banquet Hall, Gym and spa, Restaurant and Car park area. - GCH shall operate the property as a hotel under the brand name of 'Grand Continent' |
| 5 | Whether the transaction would fall within Related Party Transactions? If yes, whether the same is done at 'arm's length. | NO |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.