Mumbai: Private sector lender HDFC Ltd has put on the block a prime office space owned by Jet Airways (India) Ltd at Mumbai's Bandra Kurla Complex (BKC) post failure by the grounded airline to repay a loan amount of around ₹415 crore. Jet Airways, which was until recently India’s second-largest airline, was shut down under the weight of high debt and a severe cash crunch. Popularly known as Godrej BKC, the office building was developed by Godrej Properties Ltd in partnership with Jet Airways which owned the prime land. Jet Airways had got the land in 2008 for ₹826 crore through an auction by the Mumbai Metropolitan Region Development Authority (MMRDA). According to real estate consultants, the property would attract several investors given its strategic location and shortage for prime office space in Mumbai.

Source: Mint May 08, 2019 03:56 UTC