Go First's prime land in Thane will be auctioned at a reserve price of ₹1,375 crore, a 30% reduction from the previous reserve price of ₹1,965 crore set in June 2024. The 95-acre parcel is being offered again after an unsuccessful auction attempt earlier this year, according to a report by Moneycontrol.
Key Details
The lower reserve price aims to attract more bidders in a challenging real estate market. The company has faced financial difficulties, which have prompted the need to liquidate assets. The auction will take place in July 2026, with hopes that the reduced price will facilitate a successful sale.
Background
The Thane land is considered a prime location, and the company is optimistic that the new price will generate interest from potential buyers. Go First's management has not provided further comments on the auction strategy or expected outcomes.
The auction of Go First's Thane land could influence local real estate prices, particularly in the commercial sector, as the reduced reserve price may set a precedent for future sales in the area. Investors will watch for the outcome of the auction scheduled for July 2026 to gauge market interest and pricing trends in the region.