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Air India, which is proposed to be put on the block, is auctioning residential backdrop in chic Mumbai neighbourhoods.

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The cyberbanking bargain starts at 2 pm on Tuesday breadth one can bid for any or all of 14 flats in an Air India-owned residential architecture at Pali Hill, Bandra West, sources in the auctioneer, Kolkata-based state-owned MSTC Ltd, said.

It describes the acreage as in "very acceptable location, in a prime residential belt acclaimed for Bollywood personalities".

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The assets or the minimum bid amount has been set at Rs 122.40 crore for the 2,030 aboveboard accent body up area.

There are added backdrop as able-bodied at appropriately enviable addresses of South Mumbai like an accommodation on the eighth attic of the battleground Sterling Apartments at Peddar Road in the flush Cumballa Hill neighbourhood.

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Curiously, Air India is affairs that accommodation of Rs 2,033 aboveboard anxiety at a assets amount of Rs 18.64 crore, beneath than Rs 22 crore anniversary at which it awash agnate sized four flats in the aforementioned architecture to State Bank of India in 2015.

Also on action is an accommodation adverse Rajesh Khanna Park at Santacruz (West) that goes beneath the bang at a minimum amount of Rs 5.45 crore.

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There are additionally about eight apartments for auction at Taurus Architecture in Malad and three flats at Jupiter Apartments at Altamount Road.

Air India possesses several Mumbai backdrop including apartments at prime locations which are bequest of the state-owned carrier's bygone address in the banking capital.

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Air India affairs to accession a minimum Rs 175 crore from these sales, which would advice the government cut a allotment of its astronomic debt accountability of Rs 50,000 crore, afterward which the Union Cabinet is accepted to booty a alarm its privatisation as per an beforehand angle of government's think-tank Niti Aayog which proposed absolute disinvestment.

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