Mumbai: National carrier Air India’s efforts to monetise its real estate assets have hit an airpocket yet again. The company’s latest attempt to sell its prime residential property in Mumbai has found no takers.
It was a no show at the e-auction held on October 18 for one of the four Peddar Road (in South Mumbai) flats that was put on the block. Air India had set the minimum reserve price of Rs 27.5 crore for the 3BHK flat of 2,033 square feet. The steep reserve price, according to property consultants, proved to be a deterrent.
In all probability, Air India would now have to bring the reserve price down to about Rs 22 crore in the fresh auction, sources close to the development, said. The matter will now be referred to Air India’s special committee that oversees monetisation of its real estate assets. It is expected to meet in the next few days to decide on the next course of action.
Read News In full 22/10/13 Manisha Jha/Adith Charlie/Business Line
Thursday 24 October 2013
No takers for Air India’s properties
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