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ITDC hands over Hotel Janpath to Ministry of Housing and Urban Affairs
Date: November 02,2017
Time: 2
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ITDC hands over Hotel Janpath to Ministry of Housing and Urban Affairs


India Tourism Development Corporation (ITDC) has handed over Hotel Janpath in the national capital to Ministry of Housing and Urban Affairs (MoHUA). Handing over of the land measuring 4.41 acre of Hotel Janpath, New Delhi to MoHUA took place through exchange of documents on October 31, ITDC said in a regulatory filing on Wednesday. “Physical possession will be handed over by ITDC to MoHUA after completion of disposing of movable assets,” it added.

The Union Cabinet in May had approved the closure of ITDC’s Hotel Janpath and the property to be used for setting up government offices. It had given in-principle approval for the transfer of property to MoHUA. The government initiated the process of disinvestment of hotels/properties of the ITDC as it feels that running and managing hotels on professional lines is not the work of the government or its entities. As part of the disinvestment policy, it was decided to lease/sublease the hotels/properties jointly with the states concerned or return the properties to them, after fair valuation. States would have the option to upgrade and operate the properties by involving the private sector.

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