Air India to sell real estate assets; may garner up to Rs 300 crore

Being Disinvestment-bound  has led Air India to raise money by selling commercial and residential real estate assets in different parts of the country.  

An estimate of Rs 200 to 300 crore is to be accumulated for Air India Assets Holding Ltd (AIAHL). Bids for a few properties were sought for estate properties including plots and flats. The bids would be open on July 8 and close on July 9. 

“Air India through MSTC invites e-auction bids for sale of the properties located across India,” according to a public notice. 

The properties that have been put up for sale are, five flats in New Delhi, a residential plot in Bangalore, four flats in Kolkata, and a residential plot and a flat in Mumbai. 

As per the public notice 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 Mangalore are for sale as well. 

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 subsidiaries and various non-core assets.