Air India aims to raise upto Rs 300 crore with mega property e-auction in 10 cities --Check date and other details here

Air India is looking to raise Rs 200 to 300 crore by selling and has invited bids through MSTC.

New Delhi:  Divestment bound Air India is going to sell commercial and residential real estate assets in different parts of the country.

Air India property e-Auction important dates

The national carrier is looking to raise Rs 200 to 300 crore by selling and has invited bids through MSTC. Several of its real estate properties across the country will be up for sale thorough e-auction bids from interested parties. The bid starts on July 8 and closes July 9 for all the properties.

Air India property e-Auction across India

The properties put on the block include five units at Asian Games Village Complex in New Delhi, four units of 2BHK flats at Sohini Apartments, 18/2A-1 Udai Shankar Sarani, Golf Green in Kolkata.

The Mumbai properties up for sale include a residential plot with 14 flats of built-up area of around 2,030 square metre at Pali Hill, Bandra (W). The other property is a 3BHK flat and two units of 2BHK flats, Sachin D Strains, Gazdar scheme, Santacruz (W).

The 14 properties up for sale include assets in Nagpur, Thiruvananthapuram, Bengaluru, Bhuj and Aurangabad. A booking office and staff quarter in Aurangabad, a residential plot along with Airline House in Bhuj, six flats in Nashik, booking office in Nagpur and a residential plot in Thiruvananthapuram and two flats in Mangaluru are for sale.

The property in Bengaluru for which the national carrier has sought bids is a residential plot number 3, area 5,934 square metre, KHB Layout, Gangamuthanhalli Village, Devanhalli Taluk.

The government is in the process of deciding on the final contours for the disinvestment of loss-making Air India. A special purpose vehicle -- Air India Assets Holding Ltd (AIAHL) -- has been set up to hold the non-core assets of Air India group. AIAHL was set up for warehousing accumulated working capital loan not backed by any asset along with four subsidiaries -- Air India Air Transport Services Ltd, Airline Allied Services Ltd, Air India Engineering Services Ltd (AIESL) and Hotel Corporation of India Ltd (HCI) -- and various non-core assets. 

With Agency Inputs