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Mumbai: 22 Flats worth Rs 240.11 crore on sale by Air India  |  April 10, 2019

FPJ Web Desk

Air India has put 22 flats on sale that cost Rs 240.11 crore in various parts of Mumbai such as Bandra, Cuff Parade, Mahim, Prabhadevi and Khar. The properties will be auctioned on 26th April and the online bidding process is being conducted by MSTC (Metal Scrap Trade Corporation Limited).


Last year, Air India had put up its iconic building located at Nariman Point on sale where bids were invited from government and government entities only but there were no takes at all.


And just last month, Air India sold flats worth Rs 24.33 crore from the Jupiter Apartment at Altamount Road to the Accountant General’s office, Maharashtra. The sales include a 3 BHK flat in Nav Vidhya Lakshmi, Mahim for Rs 3.12 crore along with three properties from Sachin Da, Khar. A 3-BHK flat priced at Rs 5.15 crore, two 2 BHK flats for Rs 4.28 crore and Rs 4.88 crore.


The highest priced among these are the 14 apartments in Pali Hill, Bandra measuring 2030 sq mt with a price tag of Rs. 200 crore. A 3 BHK flat in Venus Apartment, Cuffe Parade has been priced at Rs 7.32 crore and another one in Cozihome Co-operative Housing Society, Bandra can have bid up to 10.36 crore and two more flats in Twin Towers, Prabhadevi is up for a reserved price of Rs 7 crore each.


Confirming the auction details to DNA, India, an Air India spokesperson said that an international real estate consultancy firm is helping the national carrier find buyers. The leading daily also says that relators claim the rates set by Air India to be too high compared to what the real estate market is going with right now. Mumbai market not in favour of buying these bids.