Of these, five are commercial or office spaces and one a semi-furnished apartment. All these are in Mumbai and Kolkata, as per the details put up on IL&FS website.
Infrastructure Leasing & Financial Services (IL&FS) Group is continuing with its asset divestment drive, this time by putting half-a-dozen of its properties on the block.
Of these, five are commercial or office spaces and one a semi-furnished apartment. All these are in Mumbai and Kolkata, as per the details put up on IL&FS website.
Four of the commercial properties are in Mumbai. Three are in the Lower Parel area - Business Arcade (42,419 square feet), Mafatlal Chambers (12,777 sq ft) and another 4,034 sq ft asset. The fourth one is at Nariman Point’s Maker Chamber-VI with an area of 3,299 sq ft. The fifth commercial space up has a saleable area of 13,191 sq ft and is located at Bhamhachari Street’s Constantia Complex in Kolkata.
The only apartment (1,376 square feet) that will go under the hammer is in South Mumbai’s upscale Malabar Hill area.
It is anticipated that the company may fetch anywhere above Rs 250 crore by selling 75,720 square feet of commercial space and the 1,376 sq ft apartment. January 15 is the last date to submit bids for these prime properties.
The sale of assets has been undertaken by the cash strapped company to pare its debt of over Rs 91,000 crore.
In the last two months, the Group has put IL&FS Securities Services Ltd and ISSL Settlement & Transaction Services Ltd on the block, for which it received over a dozen bids. This was followed by expressions of interest for renewable energy assets.
Earlier this month, it also put up a notice to sell 36 luxury cars including Audi, Mercedes Benz, Lexus, Honda, Land Rover, BMW, Jaguar, Toyota, Skoda as well as road assets of IL&FS Transportation Networks. On December 20, the group announced intention to monetise IL&FS Education & Technology Services and its subsidiaries as well as IL&FS Investment Managers along with all the associated fund management platforms.
TROUBLED TIMES
- Three properties up for sale are in Lower Parel area at Business Arcade and Mafatlal Chambers in Mumbai
- The fourth is in Nariman Point’s Maker Chamber-VI while the apartment for sale is in the upscale Malabar Hill
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