Lok Sabha Question No. 325 (UNSTARRED), answered on 2018-07-19
Subject: Sale of Air India Building in Mumbai
Ministry: CIVIL AVIATION
Asked by: AJAY (TENI) MISRA, ELUMALAI VELLAIGOUNDER

## GOVERNMENT OF INDIA MINISTRY OF CIVIL AVIATION LOK SABHA UNSTARRED QUESTION NO. : 325

(To be answered on the July 2018) 19th

## SALE OF AIR INDIA BUILDING IN MUMBAI

325.

SHRI AJAY MISRA TENI

SHRI V. ELUMALAI

Will the Minister of CIVIL AVIATION OTOR

be pleased to state:-

- (a) whether the Government has started discussions for the sale of Air India's iconic building in Mumbai to Jawaharlal Nehru Port Trust and if so, the details thereof;
- (b) whether a section of Air India is vehemently opposing any such move, if the details thereof; and SO,
- (c) whether Air India is considering to liquidate its other properties in many parts of the country as well and if s0, the details thereof and the improvement likely to be made in the financial condition of Air India due to same?

## ANSWER

Minister of State in the Ministry of CIVIL AVIA TION

(Shri Jayant Sinha)

(a): Monetisation of various assets has been initiated as per the Turn Around Plan (TAP) where the target was Rs: 5000 crore on monetisation over a period of 10 years from FY 2013 onwards Accordingly, the proposal for the sale of Air India building; Nariman Point to Government Department has been taken up with the Ministry 0f Shipping, Government of India:

- (b): Employees have not submitted any written opposition to the sale of Air India building: yet

(c): Air India has initiated the monetisation 0f its non-core assets. In the Ist Phase, sale of 30 Properties has been taken up by e-auction through MSTC, a PSU. The list of 30 properties is available at Annexure:

Out of the above properties; a total of 20 units have been sold through e-auction. Further; Ministry 0f External Affairs, Government of India purchased vacant land at Chennai and also two Air India Flats in\_ Hong Kong: NBCC purchased vacant land at Coimbatore and SBI purchased 06 Air India flats in Sterling Apartments at Mumbai: The revenue realized till date is Rs. 724 crore including rentals for space at different locations.

The proceeds earned from monetisation of the Air India assets are to reduce the debt burden of Air India. used

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- Residential cum Commercial Land; Mount Road, Teynampet Chennai

- 2 Land & Bldg; at Pali Hil; Bandra Mumbai

- 3, 02 Flatat Sterling Apartrent Peddar Road, Mumbai

- 4 Lard for Booking Office at Indira Nagar; Bengaturu

5. 08 vacant iats in Acquarius - Taurus at Malad, Mumbal Bldg; =

- 6, Indira Nagar; Bengaluru .

- 7 08 fats at Housing Sociely; Malad; Mumbai

- 3 flats at Jupitor Apariments; Mumbai

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- 9, Land for Housing Colony al NCC Nagar; Trvandrum

- 10, 6 flats at Krishna Nagar; Bengaluru

- 11, Residential Plot at Gurgaon

- 12,

- 13, Residential plot at Keikhali; Kolkala;

- 14,

- 15,

- 16, 03 ilats at Sachin Da; Gazdar Schemes; Khar; Mumbai

17. 01 Flatat Venus Apardment; Cuff Parade; Mumbai

Page 1

18. 01 Flats at Akashdoot ( Housing Sociely; Pune Coop;
2. 01 Flatat Ashok Cooperative Housing Society Pune
20. sq; fi Each) Bldg: No.35,8-4/12,03,0-4,13,14, 2-3 & 2-4, Swami Vivekanand Nasik (690
4. 21,
5. 22, Land &
6. 23 Opp; Gurukul Mem Nagar; Ahmedabad.
7. 24,
8. 25, Flat no.5, Navrangpura; Pravin Apartents; Ahmedabad,
26. Residential Land at 26/207, Maharani LaxmiBai Road, Gwalior
10. 27 . CBO, 4 Mangaldas Rd, (03 Pune;
11. 28.
29. 04 Bungalows at Gomtl Lucknow Nagar; !

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