Air India Ltd is making a renewed bid to raise the funds by auctioning about 38 real estate assets which include some which could not sell in previous auctions by lowering the reserve price of some of the properties. Bidders can submit their offers by 15 November, according to a tender document issued by the airline as per LiveMint reported.
MSTC Ltd which is owned by State specializes in conducting e-auctions and will handle the online auction for Air India. Cushman & Wakefield, real estate consultants are advising the national carrier on property sales. The properties on the block include flats at Asian Games Village Complex in New Delhi, flats in Kolkata’s Golf Green area, residential land in Mumbai’s Bandra, Khar and Prabhadevi areas, a holiday home in Lonavala, flats at Chennai’s Besant Nagar, apart from flats in Bengaluru and Mangaluru.
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In 2012, the government approved a plan of  Air India to monetize its real estate is part of a Turn Around Plan (TAP).