New Delhi: Tata Group's Indian Hotels Company Limited (IHCL) on Friday retained the iconic Taj Mansingh hotel in New Delhi Municipal Council (NDMC) e-auction.
The auction ended with agreement on a license fees of Rs 7.03 crore per month including GST. Earlier, IHCL was paying Rs 3.94 crore per month as license fees.
The Taj Mansingh was given to the Tata group in 1978 on a lease for 33 years, which ended in 2011. The company was since given nine temporary extensions. However, the civic body could not auction the property then as it was tied up in a legal battle with the IHCL.
The lease for the property will again be granted to the group for 33 years.
With PTI Inputs