SBI to buy Air India estate in Mumbai |
India`s biggest bank, State Bank of India, is set to buy residential properties of cash-starved national carrier Air India, in south Mumbai for Rs 90 crores. SBI plans to allocate these flats to its top executives of the rank of deputy managing directors and general managers. The airline had been looking for buyers who can purchase its four flats at up-market Peddar Road in south Mumbai for last two years. In August 2013, it had floated bids for e-auctioning of four 3-BHK flats of 2,033 sq ft carpet area each. An Air India official said the airline has sent the proposal to the civil aviation ministry for its approval.
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