Air India’s attempt to sell 14 of its prime properties in Mumbai through an e-auction that began on Tuesday and ended on Wednesday, failed to attract even a single buyer. Surprising is that most of these properties were priced at a lower than the market rate, but still did not attract any takers. These properties were in Bandra, Peddar Road, Altamont Road and some other prime areas in Mumbai.
Shailendra Kumar, the officer from Air India handling the auction, said, “We are yet to get a full report. It is difficult to say what could have been the reason for such a bad response. We have many options; we may market the properties well. Also re-auctioning them is another option.” The most expensive property on the list was a building with 14 flats in Bandra’sPali Hill area worth Rs 122 crore, while the cheapest was of Rs 85 lakh, a flat in Malad. The other properties included a flat on the eighth floor of Sterling Apartment on Peddar Road, for which the asking price was Rs 18.64 crore.
A senior officer from MSTC Ltd, Delhi, who was handling the auction, said, “The auction concluded on Wednesday and it was not successful.”
