DDAS Land Licensing Model Bags £ 10.000 CR

New -delhi, August 16 (PTI) The Delhi Development Authority (DDA) awarded the first project under its new special license property (SLP) initiative to Fleur Hotels, a subsidiary of Lemon Tree Hotel, officials said on Saturday. The project is expected to produce around £ 10,000 over a 55 -year period. “DDA invited a request for proposal (RFP) issued on May 2, 2025, for a 2-acre land package in Nehru Place issued for a five-star hotel. a cent higher than the reserve price of £ 18, “D DA has in a cent higher than the reserve price of £ 18,” D DA said in a reserve. This is a major shift in the DDA’s land removal policy. The SLP initiative, which moves away from the traditional free and everlasting rental models, allows long-term development on an annual license base. Reforms that were implemented last year by Lt -Governor VK Saxena produced spectacular results in terms of income generation for the DDA, even while facilitating the much -needed developments in the capital, the statement added. According to officials, the £ 10,000 revenue estimate includes turnover over the escalations of the annual fee over the 55-year licensing period. “This new model is expected to significantly increase DDA revenue, while the development of key infrastructure on hospitality, healthcare, logistics and retail sectors is facilitated,” the statement added. The project awarded to Fleur hotels will see the development of ‘Aurika’ on Nehru Place, one of Delhi’s largest luxury hotels with more than 500 rooms. Lemon Tree Hotels, which operates more than 110 properties in more than 75 cities, plans to bring its luxury brand experience through this business to the capital.