MUMBAI: State-run Air India Ltd’s latest bid to sell its real estate assets has found few takers. The national carrier could sell less than 10 of the 56 properties that were put up for sale in April, according to two people directly aware of the development.
The reserve price of these properties, mostly residential units, ranged from ₹16 lakh to about ₹8 crore and were located in cities such as Mumbai, Delhi, Pune, Bengaluru, Chennai and Kolkata.
“The high reserve prices for the properties were not in tune with current market conditions and was the primary reason for the lacklustre response. Less than 10 units were actually sold at the end,” said the first of the two people cited above, a senior Air India official.
