Srinagar, March 13 — The historic Centaur Hotel in Srinagar is being auctioned, with the administration stating it will generate an annual revenue of ₹44 crore.
Official documents indicate that the auction is part of the government's broader strategy to monetize public assets for better efficiency, improved services, and higher revenue generation.
The documents further reveal that the Centaur Hotel, located along Dal Lake, is among the prime properties identified for redevelopment under this initiative.
Other key properties, including Tattoo Ground in Srinagar and Pahalgam Club, are also being considered for similar monetization and redevelopment models.
Earlier, the LG administration sealed the hotel over an alleged violation of the lease agreement by the Hotel Corporation of India (HCI).