The iconic Taj Mansingh hotel in Lutyen's Delhi was retained by the Tata group in an auction by the New Delhi Municipal Council (NDMC) on Friday, official said.
The auction had been pending since the lease expired in 2011. The lease for the property will be granted to the group for 33 years at double the license fees. "The Tata group's Indian Hotels Company Limited (IHCL) has retained the property at a license fees of Rs 7.03 crore per month including GST. Earlier, they were paying Rs 3.94 crore per month as license fees," a senior NDMC official told PTI.
The Taj Mansingh was given to the Tata group in 1978 on a 33-year lease, which ended in 2011. The company had since been given nine temporary extensions. The civic body could not auction the property then as it was tied up in a legal battle with IHCL.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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