India, Sept. 26 -- The Maharashtra Airport Development Company Ltd (MADC) has invited bids to lease a 3.70-acre plot near Shirdi International Airport for the development of a five-star-category hotel. The land, spread across around 14,973 sq m, will be offered on a 49-year lease, with the minimum lease premium fixed at Rs.3,000 per sq m, translating to around Rs.4.49 crore for the entire plot, according to the tender document.

Shirdi is a major religious destination in Maharashtra, known for the Sai Baba temple, which attracts over 2 crore devotees from across India and abroad.

The tender is for leasing the plot located outside the airport area, in a mixed-use zone. MADC, a Maharashtra government undertaking and the nodal agency for ai...