Bhopal, July 9 (IANS) In a fresh push to revive one of Bhopal’s most iconic hospitality landmarks, the Madhya Pradesh government has announced a stamp duty and registration fee reimbursement for the private investor selected to redevelop the Lake View Residency Hotel, earlier known as Lake View Ashoka Hotel.
The decision, cleared by the state cabinet on Wednesday, is part of a broader public-private partnership strategy aimed at transforming the ageing property into a modern, revenue-generating asset.
Deputy Chief Minister Rajendra Shukla confirmed that tenders have already been floated and that the stamp duty reimbursement is intended to sweeten the deal for potential investors.
Perched on the banks of the Upper Lake, the hotel has long been a symbol of Bhopal’s tourism charm, but has struggled financially since its inception. Originally owned by the Indian Tourism Development Corporation, the property came under state control in 2017 when Madhya Pradesh acquired a majority stake. Now, the government is seeking to breathe new life into the 7.16-acre site by partnering with a reputed private hospitality brand.
The selected partner will be required to invest Rs 150 crore in the redevelopment, which includes constructing additional rooms and a 1,000-seat banquet hall.
The project is expected to be completed within three years of the bid being awarded.
Tourism Principal Secretary Sheo Shekhar Shukla, while speaking to IANS earlier, had emphasised that the arrangement is not a sale but a 30-year lease under which the state retains ownership.
The government anticipates an initial annual revenue of Rs 3 crore from concession fees, with a 5 per cent annual increment.
Within three years, the revenue is projected to rise to Rs 7 – 8 crore annually. The hotel’s existing staff will be reassigned to other properties managed by the Madhya Pradesh Tourism Development Corporation.
Meanwhile, the tourism department continues to expand its footprint, having recently launched new hotels in Shahdol’s Sarsi Island, Pachmarhi, and Ujjain’s Maharajwara.
With its lakefront location, vintage train-carriage restaurant, and open-air cinema, the Lake View Ashoka is poised for a renaissance — one that could redefine Bhopal’s hospitality landscape.
–IANS
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