Properties on 99-yr lease to be sold: Govt steps up Air India divestment

Air India was directed to monetise its assets to repay debts worth Rs 52,000 crore

Following the discovery that some of Air India’s assets are not owned by the carrier but are on a 99-year lease from the government, the Centre has decided to sell some of its real estate properties directly to expedite the state-owned airline’s divestment, according to a media report.

Two such properties in Delhi, a 4-acre land near Connaught Place and a residential colony in Vasant Vihar, are found to be owned by the urban development ministry, reported The Economic Times. 

“Properties, where the government