More than 10 days after NDMC fail to gather enough bidders for the e-auction of Taj Mansingh, the municipal council has announced that the iconic hotel would now be re-auctioned on July 18 from 11 am onwards, as mentioned on the website of the council .
Those seeking to buy the property can visit the site from 16 June to 22 June. The interested parties can submit their bids from June 28 to July 9, 2018. The tender document would cost Rs 5 lakh and the parties will have to pay the bid security amount of Rs 25 crore.
The earlier date for the e-auction of iconic hotel was June 19 but it got cancelled after the council failed to get three bidders which is a minimum requirement. Last time, Tata Group’s Indian Hotels Company Ltd (IHCL) and ITC had applied for bid. However due to technical reasons ITC’s bid could not get accepted leaving IHCL to be the sole bidder.
The five star hotel, situated on Man Singh Road, was given to IHCL on a lease for 33 years. The lease expired in 2011 and the NDMC decided to auction the property. Later, IHCL knocked the doors of Delhi High Court challenging the decision. After several extensions, the Supreme Court gave its nod for e-auction last year.