Most flats and plots were priced lower than the market rate, with the cheapest being `85 lakh
In a blow to Air India’s plans to sell some of its flats and plots to raise funds, an e-auction for sale of 14 properties belonging to the airline in prime areas of Mumbai found no takers.
According to Delhi-based officials conducting the auction that began on Tuesday and ended on Wednesday, there were no successful bids received for any of the properties that were put up for auction.
What is surprising is that most of these properties were priced at a lower than the market rate, but still did not attract any takers. These properties were in Bandra, Peddar Road, Altamount Road and some other prime areas.
It was an e-auction held at the Delhi office of MSTC Ltd, a state-run auctioneering agency.
Air India officials said on Wednesday that they would consider re-auctioning the properties.
Shailendra Kumar, the officer from Air India handling the auction, said, “We are yet to get a full report. It is difficult to say what could have been the reason for such a response. We have many options; we may market the properties well. Also re-auctioning them is another option.”
The most expensive property on the list was a building with 14 flats in Bandra’s Pali Hill area worth Rs 122 crore, while the cheapest was of Rs 85 lakh, a flat in Malad. The other properties included a flat on the eighth floor of Sterling Apartment on Peddar Road, for which the asking price was Rs 18.64 crore. There were eight other flats on the list, all of them located in Malad, and the price for each was Rs 85 lakh. Some other flats were from Santacruz West, which were being auctioned at Rs 5.45 crore. The remaining three flats were from Altamount Road’s Jupiter building, and all were being sold at Rs 7.07 crore.
A senior officer from MSTC Ltd, Delhi, who was handling the auction, said, “The auction concluded on Wednesday and it was not successful.”
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