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5-star hotel to come up in Delhi's Pragati Maidan, cabinet gives go ahead

India Trade Promotion Organisation, which manages the Pragati Maidan, will undertake a mega project to redevelop the land at Pragati Maidan

Press Trust of India  |  New Delhi 

Pragati Maidan
(Photo courtesy: Wikipedia)

The Union Cabinet on Wednesday approved monetisation of land at in the heart of the national capital for building a five-star hotel.

The India Trade Promotion Organisation (ITPO), which manages the Pragati Maidan, will undertake a mega project to redevelop the land into a world class International Exhibition and Convention Centre, Information and Broadcasting Minister Prakash Javadekar said.

ITPO will transfer 3.7 acres of land at on a 99-year fixed lease for developing the 5-star hotel.

A Special Purpose Vehicle (SPV) will be formed by the Indian Tourism Development Corporation (ITDC) and the Indian Railway Catering and Tourism Corporation (IRCTC) for development and operation of a five-star hotel with modern amenities.
 

First Published: Wed, December 04 2019. 13:05 IST
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