New Delhi: Government on July 5 approved the sale of five hotels of India Tourism Development Corporation (ITDC) including Delhi-based Kanishka and Indraprastha (Yatri Niwas) for over Rs 169 crore, while clearing the transaction documents for NEPA.

Kanishka Hotel was bagged by Nehru Place Hotels promoted by the Eros Group for Rs 95.95 crore against a reserve price of Rs 70.9 crore, Disinvestment Minister Arun Shourie told reporters after a meeting of the Cabinet Committee on Disinvestment (CCD).

Indraprastha property went to Moral Trading and Investment Ltd, a Mittal Group company, for Rs 45.03 crore against a reserve price of Rs 18.3 crore, while the incomplete Chandigarh property was sold to Taj GVK combine for Rs 17.27 crore.

Other properties which were sold on July 5 were Khajuraho and Ashok Varanasi, even as the bids for Ranjit were not opened.

PTI