Air India is facing the brunt of a slow down in the real estate market of the city. The national carrier has put property worth Rs 190.39 crore on sale in Mumbai. In April, the properties were put on auction and then the reserve price of these properties was Rs 240.11 crore. The properties are located at Bandra, Cuffe Parade, Prabhadevi, Mahim, and Khar.
In March, Air India had sold three of its flats for Rs 24.33 crore located in the plush Altamount Road's Jupiter Apartments to Accountant General, Maharashtra's office. The national carrier has hired the services of an international property consultancy firm for the sale of the property. The closing date for all bids for the properties is August 30.
The biggest in the sale is a residential building with 14 apartments measuring a built-up area of 2,030 sq mt located at Bandra's Pali Hill for which reserve price is Rs 150 crore. In April, Air India had put the same property on auction for Rs 200 crore.
An Air India spokesperson confirmed the auction and said, "For some properties, the reserve price has been reduced as per the advice of International Property Consultants and Oversight Committee. This is because despite multiple auctions no bid was received. Air India will sell these properties only on receipt of multiple bids. This is as per the advice of Oversight Committee."
The sale list includes a 3 BHK flat at Nav Vidhya Lakshmi, Mahim that has been priced for Rs 2.34 crore, in April the price of the same flat was Rs 3.12 crore. Another 3-BHK flat of which reserve price in April was Rs 5.15 crore is now being sold at Rs 3.86 crore.
05/08/19 Varun Singh/DNA
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In March, Air India had sold three of its flats for Rs 24.33 crore located in the plush Altamount Road's Jupiter Apartments to Accountant General, Maharashtra's office. The national carrier has hired the services of an international property consultancy firm for the sale of the property. The closing date for all bids for the properties is August 30.
The biggest in the sale is a residential building with 14 apartments measuring a built-up area of 2,030 sq mt located at Bandra's Pali Hill for which reserve price is Rs 150 crore. In April, Air India had put the same property on auction for Rs 200 crore.
An Air India spokesperson confirmed the auction and said, "For some properties, the reserve price has been reduced as per the advice of International Property Consultants and Oversight Committee. This is because despite multiple auctions no bid was received. Air India will sell these properties only on receipt of multiple bids. This is as per the advice of Oversight Committee."
The sale list includes a 3 BHK flat at Nav Vidhya Lakshmi, Mahim that has been priced for Rs 2.34 crore, in April the price of the same flat was Rs 3.12 crore. Another 3-BHK flat of which reserve price in April was Rs 5.15 crore is now being sold at Rs 3.86 crore.
05/08/19 Varun Singh/DNA
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