Air India to sell off properties worth Rs 256 cr in Mumbai

Air India the national carrier which has been facing a troubling time has decided to liquidate its property located in 12 major cities of India.

The total number of properties put on auction are 25 lots, which totals to Rs 365 crore of which property worth Rs 256.47 crore is in Mumbai.

The bid closing dates are February 21 and March 7, and the e-auction is being conducted by MSTC India, a state run auction company.

Spokesperson for Air India confirmed the auction and said, "The government has directed us to carry out this, it's a continuous process. Last time when we had put the property on block it didn't find bidders so we have brought them back via government run auction company MSTC India."

The details of Mumbai flats include, a building measuring 2006 sq m with 14 flats in Bandra whose reserve price is Rs 200 crore. There are two 3 BHK flats, in Jupiter Apartment, Cuffe Parade, each flat available in auction for Rs 8.38 crore, a 3 BHK flat at Nav Vidhya Lakshmi, Mahim has been priced for Rs 3.12 crore. Another 3 BHK,of which reserve price is Rs 5.15 crore and two 2 BHK flats for Rs 4.27 crore have been put on the block in a building named Sachin Da, Khar.

One 3-BHK flat, in Venus Apartment, Cuffe Parade has been priced at Rs 8.13 crore, while eight 2 BHK flats, in Aquarius Taurus building in Malad are being sold for Rs 98 lakh each.

The last property on the lot in Mumbai is a one 3-BHK in Ganga Jamuna, Santa Cruz for Rs 6.34 crore.

RS 365 CR ACROSS INDIA

• The number of properties put on auction are 25, which totals to Rs 365 crore of which properties worth Rs 256.47 crore are in city
   
• The bid closing dates are February 21 and March 7, and the e-auction is being conducted by MSTC India, a state-run firm