Govt invites EoI for sale of ITDC properties

new delhi: government has invited initial bids for sale of latest tranche of india tourism development corporation hotels, including hotel kanishka and hotel ranjit, while fixing the minimum networth criteria for bidders of the two delhi hotels at rs 35 crore. the fourth tranche, for which the expression of interest has been invited, includes five itdc hotel properties including hotel indraprastha (ashok yatri niwas), five star hotel project in chandigarh and hotel varanasi ashok, besides kanishka and ranjit. while government has pegged rs 35 crore as minimum combined net worth for entities eyeing kanishka or ranjit, in the case of ashok yatri niwas and the five star hotel project (chandigarh), the combined net worth for interested parties had been fixed at rs 10 crore, sources said. for hotel varanasi ashok, which is categorised as classic and houses 88 rooms, the combined net worth criteria is rs five crore. as in the case of some hotel properties, government has stipulated that a processing fee would be payable towards due-diligence and in the case of kanishka or ranjit this has been pegged at rs one lakh, while fee for due-diligence in other rest of the properties put on block, has been kept minimal at rs 40,000. "the processing fee would be refunded to those parties which do not qualify," sources said adding that the last date for submission of eois for the latest tranche of itdc properties, has been fixed at april 25.