Air India decides to auction 29 properties together

Fourteen flats were put up for sale on June 21

Air India’s attempts to sell its properties in the city’s prime areas continues. After an initial online auction for 14 properties in June did not find any takers, another e-auction for 15 other properties was held last month. While buyers showed interest this time around, the auction was aborted by Air India. According to sources, it has now decided to club the 29 properties for the third round of auction.

Fourteen flats were put up for sale on June 21 through an e-auction by government-run company MSTC India but found no takers. According to a senior official from the auction firm, for the 15 flats put up for auction on July 28, there was some interest from buyers, but the auction was aborted.

A senior officer from MSTC India’s Mumbai office confirmed that he himself had helped buyers to register for the sale that was scheduled on July 28. “This time there were buyers for the purchase of flats, unlike the one that was held in June. We are mere facilitators and not the seller, to sell or not is decided by the owners, in this case, Air India,” he said.

Another officer from Delhi office of MSTC India who was part of the sale confirmed that buyers did turn up, but the auction was cancelled. “It has been decided by the seller to combine all of the properties and put them again on sale,” he said. Ashwani Lohani, the Chairman and Managing Director of Air India said, “We are again advertising, but with aggressive marketing, too. Last time, we received a few bids, that too below the reserve price.”

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