Jet Airways Transfers Mumbai Office Space Lease for ₹370 Crore Amid Liquidation
Jet Airways, currently undergoing liquidation, has agreed to transfer the lease of its Mumbai office space for ₹370 crore. The transfer, subject to MMRDA approval, is part of the IBC and Liquidation Regulations process.
Jet AirwaysMumbai Office SpaceLease TransferLiquidationMmrdaReal Estate NewsAug 28, 2025
After flying for 25 years, the once storied Jet Airways shuttered operations in April 2019, following financial headwinds and subsequently, lenders referred the ailing airline for resolution under the IBC. Under the insolvency resolution process, the winning bidder was unable to implement the resolution plan due to multiple issues, and after long-drawn legal proceedings, the Supreme Court, in November 2024, ordered the liquidation of the carrier.
The company has executed the deed of assignment and other related documents in order to transfer lease and related rights of the company over leased premises. The office space, located at C-68, G-Block, Bandra Kurla Complex, CTS No. 4207 Kole Kalyan, Taluka Andheri, Mumbai, will be transferred to Parthos Properties Pvt Ltd for a consideration of ₹370.25 crore. A letter, dated August 26 and signed by Jet Airways Chief Financial Officer Ramesh Sundaram, about the deed has been submitted as the filing to the BSE.
Currently, trading in the shares of Jet Airways remains suspended due to procedural reasons. At the peak of its operations, Jet Airways had a little over 120 planes. When the operations came to a halt due to mounting debt woes and unpaid salaries, the airline had around 16 own planes. On April 17, 2019, the airline's last flight S2-3502 took off from Amritsar around 10.30 pm and touched down at Mumbai's Chhatrapati Shivaji International Airport at 12.22 am on April 18. Jet Airways' low-cost arm JetLite operated the flight with a Boeing 737-800 aircraft, which was later taken on lease by no-frills airline SpiceJet.
Frequently Asked Questions
What is the amount for which Jet Airways is transferring its Mumbai office space lease?
Jet Airways is transferring its Mumbai office space lease for ₹370.25 crore.
Who is the entity to which Jet Airways is transferring the lease?
The lease is being transferred to Parthos Properties Pvt Ltd.
What regulatory body's approval is required for the lease transfer?
The lease transfer is subject to approval from the Mumbai Metropolitan Region Development Authority (MMRDA).
Under which regulations is the lease transfer being conducted?
The lease transfer is being conducted under the provisions of the Insolvency and Bankruptcy Code (IBC) and Liquidation Regulations.
When did Jet Airways cease operations?
Jet Airways ceased operations in April 2019.
Related News Articles
Supreme Court Orders Sahara Group to Deposit Rs 1000 Crore, Allows Joint Venture for Mumbai Land Development
The Supreme Court has directed Sahara Group to deposit Rs 1000 crore in a separate escrow account within 15 days and allowed it to enter into a joint venture for developing its land at Versova in Mumbai.
DLF Launches India’s Costliest Residential Project: The Dahlias in Gurugram
DLF, India's leading real estate firm, is set to launch its most expensive project yet - DLF The Dahlias in Gurugram. With an average ticket size of around Rs 100 crore, this project is expected to redefine luxury living in India.
Vishal MegaMart IPO: ₹8000 Crore Issue Oversubscribed 1.63 Times
The much-anticipated IPO of Vishal MegaMart has seen a robust response from investors, with the issue being oversubscribed 1.63 times. According to data from the National Stock Exchange (NSE), the supermarket chain received bids for over 116.79 crore shar
What Homebuyers Should Know: Checking Legal Issues Before Buying an Apartment
To safeguard the interests of homebuyers, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued guidelines for real estate developers, emphasizing the importance of verifying legal documentation before finalizing a property purchase.
Panasonic Life Solutions Acquires Prime Land in Mumbai for Rs 160 Crore
Panasonic Life Solutions, a subsidiary of Panasonic Corporation, has made a significant move in the Indian real estate sector by acquiring a prime land parcel in Mumbai for Rs 160 crore. The company, which was acquired by Panasonic in 2007, continues to e
Rohan Mirage: Bhoomi Pooja for Rohan Corporation's New Residential Project on April 5
Mangaluru: Coastal Karnataka's real estate firm, Rohan Corporation, is set to perform the Bhoomi Pooja for its latest apartment project, 'Rohan Mirage,' on April 5.