Tag Archives: Centaur Hotel Srinagar

DB Realty’s Srinagar deal cancelled

Posted on by Track2Realty

Centaur Hotel Srinagar, DB Realty, Shahid Balwa, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Mumbai Real Estate, India Property, Delhi NCR real estate, Bangalore Real EstateCivil Aviation Minister Vyalar Ravi has cancelled the lease contract of Srinagar’s Centaur Hotel (jointly owned by Air India and the Jammu & Kashmir Government) which was allotted to DB Realty, the company of Shahid Balwa. DB Realty has been in the eye of storm for its shady deals in the 2G spectrum. The Centaur Hotel deal was awarded to DB Realty by the former Civil Aviation Minister Prafful Patel.

DB Realty was awarded a 33 year contract to manage the hotel. It sparked a sharp protest by hotel staff, who saw it as an attempt to privatise valley properties. A delegation of hotel employees, headed by Congress leader Saifuddin Soz, met Vyalar Ravi who initially put the deal on hold and later cancelled it.