Auro Realty acquires Hyderabad’s iconic Taj Banjara for Rs 315 crore
The hotel that once held some of the biggest Page 3 parties, film shooting and even major conferences has been closed for almost 14 months now.
By Newsmeter Network
Hyderabad: Taj Banjara, standing tall on the banks of Banjara Lake in the heart of Hyderabad, has been taken over by realtor giant Auro Realty for a massive Rs 315 crore.
The hotel that once held some of the biggest Page 3 parties, film shooting and even major conferences has been closed for almost 14 months now.
A prime property and a landmark in Hyderabad, Taj Banjara, is spread over nearly 3.5 acres. The hotel has been lying defunct since 2023 after the lease given to the Taj Group expired.
History of ownership
The hotel operated for four decades until 2023 on leased land under Taj GVK Hotels. After the lease expired, the landlord sold the property to the real estate firm, likely for an ultra-luxury high-rise project, shared sources.
The property, which was taken on lease by Taj GVK Hotels and Resorts Ltd and managed first as Taj Gateway and later as Taj Banjara, will now be taken over by Auro Group, which bought the lease for Rs 315 crores.
Hotel closed for 14 months
When NewsMeter reached out to one of the staff members of Taj Banjara, he said that the lease agreement between the owners and Taj Group, which continued for almost four decades, ended 14 months ago. Since then, the hotel remained closed, and all the activities remained suspended, he added.
