A day after the Delhi high court dismissed the plea of Indian Hotels Company Ltd (IHCL) to stall the auction of Taj Mahal Hotel, the New Delhi Municipal Council (NDMC) has started the process to aucti
A day after the Delhi high court dismissed the plea of Indian Hotels Company Ltd (IHCL) to stall the auction of Taj Mahal Hotel, the New Delhi Municipal Council (NDMC) has started the process to auction the property. The NDMC is planning to lease out the property to reputed international or national hotel group and for this, it is calling a global tender for auction. A senior NDMC official said that the council would ensure that only reputed and big groups take over the hotel and that the groups maintain the importance of the existing structure.
A well-placed source in the NDMC told this newspaper that a consultant has been already appointed for the purpose. “The whole exercise of auctioning the property will start soon and approval in this regard may be taken in the council meeting to be held on November 3,” he added.
The property is located at 1, Maansingh Road in Lutyen’s Delhi, spread over three acre land. A senior official said that the IHCL is currently paying Rs 3.2 crore per month to the NDMC as license fee for the leased property.
As per the plan, the NDMC has decided that the property will be leased out to a big player of international or national repute. “By leasing the said property to a group or firm of international or national repute we ensure that the hotel will be well maintained and managed,” said another senior NDMC official.
The NDMC said that Tata group’s subsidiary, IHCL, can participate in the bidding process.
“Like any other groups with international or national repute, IHCL can participate in the bidding process as we are calling a global and open tender,” it said.
The NDMC, however, specifically mentioned that the new lessee would not be allowed to tinker with the existing outer structure of the building.