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Government starts process of selling Air India Mumbai headquarters

Built in 1974, the building could fetch anywhere between Rs 10 billion to Rs 15 billion, based on current real estate prices, according to experts

Air India, Air India headquarters
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Air India’s debt burden is estimated to be more than Rs 500 billion

Megha ManchandaAditi Divekar New Delhi
The iconic Air India building at Mumbai’s Nariman Point would soon have a new owner in the Jawaharlal Nehru Port Trust, with the financial advisors in the ministries of shipping and civil aviation beginning the process of appointing private evaluator for the takeover.

“The evaluation process will take a month or two, following which the building would be bought by JNPT,” Shipping Minister Nitin Gadkari told Business Standard. The exercise is being undertaken after the proposed stake sale of the national carrier failed to attract investors.

The 23-storey building at Nariman Point is the national carrier’s headquarters and is prime
Topics : Air India

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