Lenders look to bag Rs 8,000 crore from sale of RCom's prime property

Will hold auction to sell 56-acres of prime real estate in Navi Mumbai, expect higher valuation due to construction of new airport in the vicinity

Lenders to Reliance Communications (RCom) are planning to approach top Indian corporates and real estate developers, including Mukesh Ambani-led Reliance Industries (RIL), to sell its 56-hectare property in Navi Mumbai where the bankrupt telco’s headquarters are also situated. They expect to fetch Rs 8,000 crore by selling it, sources said. 

The lenders are in touch with potential buyers to sell the property, Dhirubhai Ambani Knowledge City (DAKC), and expect a higher valuation because of the construction of a new airport in the vicinity. 

“An investment banker will be appointed to sell the land. It would approach top companies and real