Auro Realty owns Taj Banjara after spending Rs.315 crores

Auro Realty, the real estate arm of the Aurobindo Group, has acquired another prime property in Hyderabad. The company purchased the Taj Banjara star hotel located in Banjara Hills for about Rs. 315 crore.

The hotel stands on a land parcel of 16,645 square yards with a built-up area of around 1.2 lakh square feet. Due to unpaid taxes to the GHMC, the hotel had remained closed for some time.

It is still unclear whether Auro Realty will renovate the Taj Banjara and operate it as a star hotel again or convert it into a real estate development.