Friday, August 25, 2017

Air India to auction a 24-ground prime property at Teynampet in Anna Salai

Chennai: Facing imminent privatisation, Air India has started to sell its land in 13 cities, including a 24-ground land on Anna Salai at Teynampet in Chennai, where it was once planning to build its city office. The land in Chennai will be up for bidding starting from Rs 4 crore per ground. The airline has decided to do an e-auction of properties at Chennai, Bengaluru, Mumbai, Kolkata, Ahmedabad, Goa, Lucknow, Bhuj, Nasik, Pune, Trivandrum, Gurgoan and Gwalior. Most of the property are office blocks, land for residential blocks, bunglows, flats and other assets.
Sources said that the move was to dispose off property which the airline did not want and use the money earned to reduce its loan burden.
The land at Teynampet is located in prime area.
24/08/17 V Ayyappan/Times of India