The New Delhi Municipal Council is all set to start the bidding process for Taj Mansingh hotel. A proposal to finalize the terms and conditions of the lease will be placed in the upcoming council meeting on April 10 which was earlier scheduled for March 26.
Sources say the bidding will start next month after the council approves the proposal.
"We will invite request for proposal for the hotel. The proposal placed before the council is to finalize the terms and conditions . The highest bidder will be given the contract to run the hotel for the next 30 years," a senior NDMC official said.
Taj Mansingh's lease had expired in 2011
NEW DELHI: Taj Mansingh's lease had expired on October 31 , 2011. The lease was extended by a year in October 2012 due to delay in submission of the report by consultant Ernst and Young hired by NDMC to decide whether to renew the lease or invite open bids.
"We will invite request for proposal (RFP) for the property. The proposal placed before the council is to finalize the terms and conditions . The highest bidder will be given the contract to run the hotel for next 30 years. But it has been decided to give the first right of refusal to IHC,'' said a senior NDMC official.
"We can't extend the lease further. The contract has to be finalized before October 31 , 2013 . IHC was given an extension for a year, as we were awaiting the report from the consultant . The report got delayed as the consultant was changed," said an official.