Sahara India hunts for global iconic properties. And the firm lays its eyes on Air India’s landmark headquarters at Nariman Point in Mumbai.

Air India shakes its head in negation to Sahara’s bid.

Debt- driven Air India has recently disclosed its plan to lease/ monetize its real estate assets to cut off its debts. The national carriers was planning to lease out 20 floors of its headquarters at Nariman Point while keeping the top three floors for its own office purposes.

Air India expects to generate around Rs.50 Cr yearly by leasing out 16 lakh sq. ft. in the tower. Lucknow – based Sahara group approached Air India with its plan to lease out the entire area for 30 years. The sources close to Air India however said that the bid was not accepted as it did not wish to lease out the HQ in Mumbai for a longer period. Air India plans to lease the HQ building for shorter period. Continue reading →