SBI to buy 4 Air India flats for Rs 90 crore

SBI to buy 4 Air India flats for Rs 90 crore

In an all-cash deal, SBI is all set to buy four premium flats in the city’s tony Peddar Road area from the loss-making Air India for Rs 90 crore.

The legal team of Air India is preparing a draft sale agreement which will then be given to the counterparts from the State Bank of India.

The government recently gave go-ahead to Air India to sell the flats to SBI for about Rs 90 crore as part the airline’s asset monetisation plan.

“Once the purchase agreement is signed by both the parties, the bank will initiate the process to take possession of the flats. It will take a month’s time,” a source said.

The lender is planning to allocate these four flats to its top executives. Each of these 3-BHK flats has a carpet area of 2,033 sq ft.

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