INSUBCONTINENT EXCLUSIVE:
Taj Mansingh auction had been pending since Tata Group's lease expired in 2011.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
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
not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
