The renowned Taj Banjara hotel, located in the upscale Banjara Hills of Hyderabad, has been purchased by Aurobindo Group’s real estate division, Auro Realty, from Hotel Banjara Ltd, in a transaction valued at 315 crore.
This acquisition marks the end of an era for one of Hyderabad’s earliest five-star hotels, which is situated on a 3.4-acre site with views of Banjara Lake on Road No. 1, and was a favorite among Tollywood celebrities.
The property was previously owned by the family of Anil Agarwal from Delhi. Although officials from Auro Realty refrained from commenting on the deal, Anuj Agarwal, joint managing director of Hotel Banjara Ltd, confirmed its completion.
Sources indicate that Auro Realty may pursue the development of a premium high-rise or mixed-use project on the site, which had attracted interest from several real estate developers, including national firms like Prestige Group and local entities such as Pranava Group, prior to Auro Realty securing the property at the end of October this year.
Agarwal informed that his family had owned the property for forty years, following his uncle, RS Agarwal’s decision to acquire it after he was captivated by the lake-view hotel during an unscheduled stop in Hyderabad while traveling to Bangalore. RS Agarwal had strong connections with the ITC Group.
Until 1986, the ITC Group managed the property. Subsequently, Taj GVK Hotels, a joint venture between Indian Hotels Company Ltd and Hyderabad’s GVK Group, took over its operations. Taj GVK managed the hotel for nearly forty years until its lease expired in 2023. Since that time, the hotel has remained closed.
In February 2025, the now-defunct property was sealed by the GHMC due to the non-payment of property dues exceeding 1.4 crore over a two-year span.
