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DDA's land licensing model bags ₹10,000 cr deal with Fleur Hotels
Press Trust of India New Delhi
The Delhi Development Authority (DDA) has awarded the first project under its new Special License Property (SLP) initiative to Fleur Hotels, a subsidiary of Lemon Tree Hotels, officials said on Saturday.
The project is expected to generate approximately Rs 10,000 crore over a 55-year period.
"DDA had invited bids through a Request for Proposal (RFP) issued on May 2, 2025, for a 2-acre land parcel in Nehru Place earmarked for a five-star hotel. The bidding process, conducted on August 13, saw Fleur Hotels secure the project with an annual license fee offer of Rs 27.19 crore, about 50 per cent higher than the reserve price of Rs 18 crore," DDA said in a statement.
This marks a major shift in DDA's land disposal policy. Moving away from the traditional freehold and perpetual lease models, the SLP initiative allows long-term development on an annual license basis.
Reforms set into motion last year by Lt Governor VK Saxena, have yielded spectacular results in terms of revenue generation for the DDA even while facilitating the much needed developments in the capital, the statement added.
According to officials, the Rs 10,000-crore revenue estimate includes annual fee escalations over the 55-year license term.
"This new model is expected to significantly boost DDA's income, while facilitating key infrastructure development across hospitality, healthcare, logistics, and retail sectors," the statement added.
The project awarded to Fleur Hotels will see the development of "Aurika" at Nehru Place, one of Delhi's largest luxury hotels with over 500 rooms.
Lemon Tree Hotels, which operates more than 110 properties in over 75 cities, plans to bring its upscale brand experience to the Capital through this venture.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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