The Land and Development Office (L&DO) is expected to get Rs 21.77 crore from the six India Tourism Development Corporation (ITDC) hotels in Delhi which have been put on the block by the government.
The L&DO will thus freeze all liabilities of ITDC on account of payment towards damage charges, additional charges and the ground rent.
The six Delhi hotels include Janpath, Ranjit, Lodhi, Samrat, Ashok Yatri Niwas (Indraprastha) and Kanishka.
While L&DO will get Rs 7.08 crore from Ranjit hotel, it will receive Rs 9.77 crore for freezing all liabilities of Janpath hotel in central Delhi. The bidder for the Samrat hotel, which is expected to be put on the block in the third tranche on a renewable lease of 30 years, will pay Rs 1.37 crore towards settlement of all dues to L&DO.
The hotelier who takes Lodhi will have to make a one-time payment of Rs 2.99 crore to L&DO.
The government has decided to divest its stake in all these hotels in the second tranche of the ITDC divestment. Since most of the ITDC hotels had not cleared their dues towards L&DO, the government directed the hospitality major to ascertain the total quantum before the properties were divested. The bidders for the individual properties are required to factor in these payments before making a final bid.
