Chennai-based devotee K V Ramni had donated Rs 110 crore towards construction of the project.
"Sai Baba Trust also spent Rs 90 crore towards providing basic facilities and plots for the project which stands completed. President Pranab Mukherjee will inaugurate the project on November 16," More said on the sidelines of 'Vijaya Dashmi' festival here.
The Sai Ashram project comprises two tourist rest houses and will cater to around 15000 devotees.
"Under the project, 1,536 rooms are built in Sai Ashram-I and 192 halls in Sai Ashram-II," More said, adding Ramni handed over the keys of the projects to Trust this evening.
While charges for a non-air conditioned room is fixed at Rs 500, air conditioned room costs Rs 900, he said.
Meanwhile, a Mumbai-based devotee today donated two plates made up of three-kg gold worth around Rs 94 lakh, More said.
The Vijaya Dashmi festival began at Sai Baba shrine yesterday. The festival is celebrated to mark Saibaba attaining 'maha samadhi' on the Dussehra day 93 years ago.