This seems to be the year of homecoming for big-ticket NRI investments. After Lakshmi Mittal and Swraj Paul, another international entrepreneur of Indian origin, Sant Chatwal, is planning to pump Rs 10 billion into India to set up a chain of boutique hotels under his Dream Hotel brand.

The flamboyant New Yorker, who's famous for his proximity to the Clintons, is close to sealing deals for acquiring land to set up Dream Hotel properties in Delhi, Mumbai and Bangalore. Next on the agenda are similar boutique hotels in Chennai and Hyderabad, Chatwal told The Times of India.

Dream Hotel is part of his US$750-million Hamshire Hotels & Resorts chain, which has a presence in the US, Canada and the UK. The first Dream Hotel in India, Chatwal said, will be operational by the end of 2007 or early 2008.

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