The Taj Hotel near India Gate will remain with the Tatas for one more year and will have the first right of refusal in an auction to be conducted within this period.
The municipal body passed a proposal, put forward by BJP MP Meenakshi Lekhi who is also a council member, to this effect at a special meeting convened by its chairman Naresh Kumar.
Giri, meanwhile, continued for a second day his hunger strike outside the residence of Kejriwal, demanding that he prove his allegations regarding the murder of Khan.
Following the former President's demise last month, there had been a demand from many sections of the society for dedicating a road after him as a token of love and tribute to the "missile man".
"His role is suspicious in the case. Why had he written to NDMC seeking action against Khan? We demand that the LG be arrested and sacked from his position," AAP's Delhi Unit Convener Dileep Pandey said at a press conference.
Acting on the complaint of Bharatiya Janata Party leader Karan Singh Tanwar, a former MLA from Delhi Cantonment, the Jhajjar police booked him.
The Delhi poll results have thrown up several "giant killers" who led a life of anonymity and were political novices before they entered the electoral battle on AAP tickets.
The East Delhi MP was on protest demanding proof from Kejriwal about his allegations that he was involved in Khan's murder and demanded an apology in case the chief minister was unable to do so.