NEW DELHI: The New Delhi Municipal Council ( NDMC ) has announced the e-auction of three of its premium hotels in Lutyen's Delhi, including the five-star property Taj Mansingh , for a period of 33 years.The other two hotels are -- The Connaught and Hotel Asian International.The civic body held a pre-bid meeting for the three properties last week and the submission period of bids is from May 15-June 7. "The auction of the three properties has been pending for quite a while. We have announced the launch of e-auction for all three of them and are inviting bids. The e-auction will be conducted through MSTC Ltd, a central PSU, and SBI Capital Market Limited will be the transaction advisor for the auction," a senior NDMC official told .Taj Mansingh was earlier given to Tata Groups Indian Hotels Company Ltd (IHCL) on a lease for 33 years, which ended in 2011. But, the bidder later refused to take the property necessitating a re-auction.

Source: Economic Times May 13, 2018 05:37 UTC