Govt plans to monetise New Delhi’s Ashok hotel run by ITDC
Real Estate

Govt plans to monetise New Delhi’s Ashok hotel run by ITDC

The centre is planning to monetise The Ashok, a strategically located five-star hotel in New Delhi, operated by the India Tourism Development Corporation (ITDC).

The cabinet is likely to approve the asset monetisation plan by January.

The plan may be undertaken by the Cabinet by early next month, a government official told the media, adding that the Centre anticipates the hotel's monetisation to be done by December next year.

An empowered group may be installed by the Cabinet to operate the process, the official told the media, adding that three models have been presented. One is to lease the hotel on a standalone basis with the land parcel kept out of the process.

The Ashok, situated in the diplomatic enclave of Chanakyapuri in Lutyens’ Delhi, was opened in 1956. The sprawling property with 550 guest rooms is held by ITDC, in which the government holds an 87.03% stake.

There have been discussions over the past couple of years about the government aiming to monetise the hotel. Several other ITDC hotels, comprising Jammu Ashok in Jammu, Janpath in Delhi and Kalinga Ashok in Bhubaneswar, have been closed in recent years due to increasing losses.

A report issued by the Department of Investment and Public Asset Management (DIPAM) in 2020 had stated that the government could raise approximately Rs 7,500 crore by selling its hotel properties.

The asset monetisation plan is part of the disinvestment drive being spearheaded by the Centre. The finance ministry has set an ambitious goal of raising Rs 1.75 lakh crore via disinvestments in FY22. It is approximately five times the Rs 32,825 crore raised via divestments in the earlier fiscal.

Image Source

The centre is planning to monetise The Ashok, a strategically located five-star hotel in New Delhi, operated by the India Tourism Development Corporation (ITDC). The cabinet is likely to approve the asset monetisation plan by January. The plan may be undertaken by the Cabinet by early next month, a government official told the media, adding that the Centre anticipates the hotel's monetisation to be done by December next year. An empowered group may be installed by the Cabinet to operate the process, the official told the media, adding that three models have been presented. One is to lease the hotel on a standalone basis with the land parcel kept out of the process. The Ashok, situated in the diplomatic enclave of Chanakyapuri in Lutyens’ Delhi, was opened in 1956. The sprawling property with 550 guest rooms is held by ITDC, in which the government holds an 87.03% stake. There have been discussions over the past couple of years about the government aiming to monetise the hotel. Several other ITDC hotels, comprising Jammu Ashok in Jammu, Janpath in Delhi and Kalinga Ashok in Bhubaneswar, have been closed in recent years due to increasing losses. A report issued by the Department of Investment and Public Asset Management (DIPAM) in 2020 had stated that the government could raise approximately Rs 7,500 crore by selling its hotel properties. The asset monetisation plan is part of the disinvestment drive being spearheaded by the Centre. The finance ministry has set an ambitious goal of raising Rs 1.75 lakh crore via disinvestments in FY22. It is approximately five times the Rs 32,825 crore raised via divestments in the earlier fiscal. Image Source

Next Story
Infrastructure Urban

Aadhaar Authentications Cross 27 Billion in FY25

Aadhaar authentication transactions surged past 27.07 billion in FY 2024–25, including 2.47 billion in March alone, reflecting its growing adoption across sectors such as banking, finance, telecom, and public service delivery. Since its inception, the cumulative number of Aadhaar authentication transactions has exceeded 148 billion.The Unique Identification Authority of India’s (UIDAI) AI/ML-based face authentication technology is also witnessing a sharp rise in usage. In March 2025 alone, over 150 million face authentication transactions were recorded. This biometric modality is now used ..

Next Story
Infrastructure Urban

IEPFA Holds Preparatory Meet for 'Niveshak Shivir' Initiative

The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, Government of India, hosted a preparatory meeting on April 28, 2025, with Nodal Officers from stakeholder companies via video conference. The session, chaired by IEPFA CEO Smt. Anita Shah Akella, focused on finalising operational plans for the upcoming ""Niveshak Shivir"" initiative—a joint effort between IEPFA and the Securities and Exchange Board of India (SEBI).""Niveshak Shivir"" aims to improve investor services and streamline the claims process by reaching out to cities with a high nu..

Next Story
Infrastructure Urban

India, France Sign Deal for 26 Rafale-Marine Jets for Navy

India and France have signed an Inter-Governmental Agreement (IGA) for the acquisition of 26 Rafale-Marine aircraft for the Indian Navy, comprising 22 single-seater and four twin-seater jets. The deal also includes training systems, simulators, associated equipment, weapons, and performance-based logistics, along with additional equipment for the Indian Air Force’s existing Rafale fleet.The IGA was signed by India’s Defence Minister Rajnath Singh and French Minister of Armed Forces Sébastien Lecornu. The agreement, along with supply protocols for aircraft and weapons, was exchanged in the..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?