Delhi’s Famous Hotel Ashok to Host a Market Complex

delhis famous hotel ashok to host a market complex

In order to monetise assets to meet its disinvestment target for the current financial year, the Union Government will lease out The Ashok Hotel in Lutyens’ Delhi and its adjacent 22-acre land for building service apartments and a market complex.

However, its twin, Hotel Samrat, will continue to be run by India Tourism Development Corp. (ITDC) due to its proximity to the prime minister’s residence, a sensitive location that demands high security.

Earlier last year, NITI Aayog had suggested the lease of Hotel Ashok, a public enterprise into the hands of private business players.

In the report commissioned from Feedback Infra, DIPAM had predicted that the government could get 7,500 crore rupees from the monetisation of its assets of hotel infrastructures. However, the finance ministry later announced that the government shall not be targeting any specific amount as the report reflects the assessment conducted before the COVID-19 outbreak.

In its plan to lease out the hotel property, the inter-ministerial group has allowed commercial opportunities to flourish in the land, provided they follow the required security measures.

Want to know more on click here go to tour news source.

Want to know more on click here go to tour news source.

From -
Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.