Tuesday, March 26, 2019

Air India sells three South Mumbai flats to Accountant General's office

After trying to auction these properties multiple times, Air India, in the last week, sold three of its flats located in the Jupiter apartment at Altamount Road. The properties were bought by Accountant General's office, Maharashtra. The office shelled out Rs 24.33 crore for these three flats. The reserve price for these flats in the previous auctions was above Rs 8 crore each. According to sources in Air India, the company currently, has debts of around Rs 48,000 crore.

For more than two years now, Air India has been trying to sell off many of its properties in Mumbai. However, none of the previous auctions could fetch them, buyers. To their relief, the Accountant General's office (AG's office) that was looking for properties in South Mumbai approached Air India and the deal was finalised in Delhi.

According to documents accessed by DNA, the property was registered with the sub registrar office on March 18, where three flats located on the fourth, fifth, and sixth floors of the building, all measuring 127.50 square metre, were sold by Air India to the Principal Accountant General-I, Maharashtra.
26/03/19 Varun Singh/DNA
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