Nitin Sindhu VY | Mumbai
The remaining office space of the now-closed Jet Airways in Mumbai’s Bandra-Kurla Complex (BKC) will be auctioned online on June 2. The starting price has been set at ₹ 335.2 crore.
Key Details:
- The office is located in Godrej BKC, a prime business tower.
- The space up for sale is on the second floor, covering 83,000 sq ft, and includes 70 parking slots.
- Interested buyers must deposit ₹ 32.5 crore to participate.
Background:
- In 2020, Brookfield Asset Management bought two other floors of Jet Airways in the same building for ₹ 490 crore.
- Brookfield has first rights to buy this floor too—if another bidder makes an offer, Brookfield can match it.
- The office was earlier sealed by the Mumbai civic body due to unpaid bills but was recently reopened by court order.
Why This Matters:
- The 2020 sale price was 25% lower than market rates at the time, making it a good deal.
- The auction is part of Jet Airways’ bankruptcy process under Indian law.
What’s Next?
The e-auction will decide the new owner, with Brookfield likely to step in if the price is right.
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