The Delhi Development Authority auctioned Nehru Place land for a new five-star hotel project.
The Delhi Development Authority auctioned Nehru Place land for a new five-star hotel project.
The group agreed to pay ₹27.19 crore annually, far exceeding the reserve price.
The deal will generate nearly ₹10,000 crore revenue for the DDA over 55 years.
The property will be developed into “Aurika Nehru Place,” with over 500 luxury
rooms.
The asset-light model allows DDA to retain land ownership.
This move adds to Delhi’s premium hospitality infrastructure in a key business hub.
Ancillary growth in restaurants, events, and jobs is expected around the project.
The auction was advised by SBI Capital Markets.
Hospitality sector analysts see the project as
a long-term value driver.