RInfra's plan to lease out headquarters property may face legal hurdle

Past efforts by the firm to strike a deal for the property have not yielded results

In its latest bid to monetise existing assets and reduce group debt, Anil Ambani-promoted Reliance Infrastructure (RInfra) is planning to put its Mumbai headquarters property on a long-term lease. The move, however, may not be easy as the property is stuck in a legal wrangle at the electricity tribunal.

RInfra on Monday said it plans to monetise its marquee Reliance Centre Office in Santacruz, a western suburb in Mumbai. The property has a 6.95 lakh square feet area on a plot of 15,514 square metres. “Reliance Infrastructure will continue to own the premises and monetisation would be by way of long-term