Air India Starts Auctioning Prime Properties In These 10 Cities: Date, Rules & More Details

Air India Starts Auctioning Prime Properties In These 10 Cities: Date, Rules & More Details
Air India Starts Auctioning Prime Properties In These 10 Cities: Date, Rules & More Details

As part of the disinvestment of India’s national air carrier, Air India has announced the sale of its properties located across India

Air India Sale This Year

It is expected that the divestment process will complete this year and e-auction comes as a precursor to this process.

The e-auction bids will start on July 8, 2021, and will close on July 9, 2021, as per the e-auction notice available on its website.

Air India Properties Location In Different States

If we talk about the location of these properties, five units are located at the Asian Games Village Complex in Delhi, a residential plot with 14 flats in Pali Hill, Bandra, Mumbai; and a 3BHK and two 2BHK flats in Gazdar Scheme, Santacruz, Mumbai.

Further, the list also includes a residential plot in Gangamuthanhalli Village, Devanahalli District in Bengaluru and four units of residential flats in Uday Shankar Sarani, Golf Green, Kolkata.

Apart from that, it has listed booking offices and staff quarters in Maharashtra,  Town Centre, Aurangabad, six units of CIDCO 2BHK flats in Swami Vivekanand Nagar, Nashik, and a booking office in Civil Lines, Nagpur.

In the case of Gujarat, a residential plot (231 sq. m. approx.) and an Airlines House in Bhuj are on offer.

The list also includes a flat in Hoisala, Diana Complex, Kadri, Mangalore; a residential plot at NCC Nagar, Peroorkkada, Kadappanakunnu Village, Thiruvananthapuram.

Government’s Disinvestment Plans

According to Union Civil Aviation Minister Hardeep Singh, the disinvestment of cash-strapped Air India is likely to happen by the end of this year.

Further adding that “Air India is still in the debt of Rs 60,000 crore and it’s liable to be sold,”.

With this move, the government is hoping to fetch approximately Rs 15,000 crore from the sale of national carrier Air India and its subsidiary Air India Express and AISATS.

Which is a 50:50 joint venture partnership between Air India and Singapore Airport Terminal Services (SATS) Limited.

So far, Tata Group and SpiceJet CEO Ajay Singh are the final two bidders for Air India. 

in December 2020, both submitted Expressions of Interest (EoI) to the government and are expected to submit financial bids.

from disinvestments and strategic sales in 2021-22, the center is expected to raise Rs. 1.75 lakh crore. 

Apart from Air India, the disinvestment plan also includes the sale of assets such as BPCL, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans and Neelachal Ispat Nigam amongst others.

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