The cash-strapped Air India (AI) has put its 71 properties for auction. Out of this 30 flats are located in Mumbai, 1 holiday home is in Lonavala and there are other various commercial, residential properties in Nashik and Pune. AI has roped in government-owned MSTC Ltd to conduct the e-auctions.
According to Mumbai Mirror, Mumbai properties include 14 executive flats and plots at Pali Hill in Bandra West, nine 2BHK flats in Aquarius Taurus building in Malad, two 3BHK flats in Mahim, one in Venus Apartments at Cuffe Parade, two 2BHK flats and storerooms in Khar, among others. These properties are expected to raise Rs 249 crore through a sale scheduled on December 4.
The reserve price for the building with 14 flats — measuring 2,006 sq m and located in Pali Hill — is Rs 200 crore. The holiday home in Lonavala has been priced at Rs 6 crore and there are over Rs 25 crore-worth six CIDCO 2BHK flats in Nashik and some commercial units in Pune.
But this is not it. Air India will also soon auction its properties in Amritsar, Agartala, Bhuj, Bengaluru, Chennai, Delhi, Gwalior, Hyderabad, Manipur, Hyderabad, Mangalore, and Thiruvananthapuram. In its earlier attempt on November 1, Air India had put its 44 properties for sale, but that didn’t end well. A senior Air India official told DNA, “The last auction didn’t get us any bidders for the properties in Mumbai, so we have to hold the auction of these properties again. We have to sell them off and we are repeating the process. It seems like Mumbai’s real estate market is having an impact on the sales.”
