Air India open bids again for 7 of its flats across Mumbai

The national carrier, Air India, has put up seven flats on sale in locations at Bandra, Cuffe Parade, Prabhadevi and Khar, each priced between Rs 3 crore and Rs 10 crore.

The properties were put up on sale earlier too, but nobody came forward to buy them. So the auction had to be held again, and bids opened on Wednesday. The closing date for bids is January 30.

The loss-making carrier hasn’t yet finalised the deal of the iconic Air India building, located at Nariman Point, which has also been put up on sale. An official said AI has received one bid for the building, and one more organisation has shown interest. The bids are still open.

One 3BHK flat, in Venus Apartment, Cuffe Parade, has been priced at Rs 7.32 crore, and one flat in Cozihome Co-operative Housing Society, Bandra, at Rs 10.36 crore. Another flat measuring 1,385 sq ft in Twin Towers Premises Cooperative Society Limited, Prabhadevi, has been reserved for a price of Rs 7 crore.

The new sale list includes a 3BHK flat at Nav Vidhya Lakshmi, Mahim, which has been priced ay Rs 3.12 crore. Another 3BHK, for which the reserve price is Rs 5.15 crore, a 2BHK flat for Rs 4.28 crore and another 2BHK for Rs 4.88 crore in a building named Sachin Da Strains, Khar, have been put up on the block.

The online bidding process is being conducted by state-run MSTC India and an international real estate consultancy firm is helping Air India to find buyers.

Last month, Air India put up on sale its building at Nariman Point. But the deal hasn’t been sealed yet, according to a senior official, one of the national Insurance company has shown its interest in taking the property. A senior Air India official, when asked about the Nariman Point building sale, said that it hasn’t happened yet. The building has to be bought by a government organisation.

Even for the flats, AI is hoping to find government buyers, as it is easy to deal and transfer when two government bodies are involved. But there have been no takers for these properties for quite some time now.

NOT SALE-FRIENDLY

The property prices set by Air India, a realtor says, are quite competitive but the market in Mumbai isn’t very favourable for sales.