Catalogue lot 1; property bundle pp. 1–2 and 7
What exactly is being offered?
Lot 1 is a 2,000 m² commercial plot at TP Scheme 9, Plot 1, Vadodara. The catalogue calls it leasehold vacant land formerly allotted to Indian Airlines for a city booking office, and expressly says some land is encroached. The property bundle identifies Karelibaug and Mouje Nagarwada. It does not establish the size of the occupied portion or promise vacant possession.
- MSTC 608176 · lot 1
TP Scheme 9 · Plot 1, Karelibaug
Vadodara, Gujarat
- Interest offered
Unconfirmed: catalogue says leasehold; registered 2011 deed records a conditional sale
- Possession
Partly encroached; extent unverified
Property bundle p. 3 stamp certificate; pp. 4–7 deed, clauses 4, 6 and 14–17; pp. 11–14 registration; p. 17 possession; catalogue lot 1; linked terms clause 17
What does the title bundle establish?
The current catalogue and linked terms call the land leasehold. The registered deed dated 9 November 2011 records a permanent sale of the 2,000 m² by the municipal corporation to Air India, subject to use and transfer conditions that allow repossession if breached. The stamp certificate calls it a conveyance, and deed clauses 4 and 6 describe permanent sale and ownership. The documents do not explain the difference. Ask AIAHL in writing what interest the buyer receives and whether any lease term applies. The 8 September 1993 possession record does not establish current vacant possession.
Property bundle pp. 1–2, letter paragraphs 4–5; p. 7 deed clause 16
Was the transfer from Air India to AIAHL approved?
The joint Air India/AIAHL letter of 24 January 2024 tells the municipal corporation about the transfer of Air India’s interest to AIAHL and asks for written acknowledgement. It does not request approval, and the bundle contains no reply. Deed clause 16 requires the corporation’s prior approval for transfer of the land, a building or any right in it, including by sublease, gift or other means. Breach permits repossession without compensation for construction. Obtain evidence that the Air India-to-AIAHL transfer received the required prior approval.
Property bundle p. 5 clause 2; p. 7 clauses 14–17; p. 15 municipal conditions 6, 10–11; p. 17 possession; current catalogue lot 1
Can the plot be used or transferred freely?
The historical municipal conditions restrict use to the airline’s own booking-office building and restrict letting, licensing and transfer. They required construction within five years of possession, handed over on 8 September 1993. The current catalogue still describes vacant land; the bundle shows no extension or waiver. This is an unresolved historical compliance issue, not a new construction period for the buyer. Deed clause 2 also binds the owner to conditions the corporation imposes later. Clauses 14–17 permit cancellation and repossession for breach, without compensation for construction. No inspected document establishes unrestricted commercial development rights or release from these conditions.
Linked terms clauses 4, 25(b)–(d), 27(a) and 30(j), PDF pp. 3, 9–11 and 13; clauses 1–39 and notes A–J checked for refund provisions
Could the full price be due before transfer approval?
Yes, under the linked terms. The buyer must obtain the municipal No Objection Certificate (NOC) at their own cost and responsibility. The full price is due within 45 days of the Acceptance Letter under those terms, while the catalogue gives 60 days. That payment deadline is not tied to receipt of the NOC. AIAHL signs the transfer only after full payment and the necessary approvals. The terms exclude AIAHL/Air India’s liability for an authority’s delay, refusal or added conditions and state no buyer refund right if the NOC is refused. Obtain the governing payment terms and written confirmation of this approval risk before bidding.
Linked AIAHL terms, clause 8, PDF p. 5; clause 30(g), PDF p. 13; clause 2(a)(xii), PDF p. 2
Who can bid, including NRIs?
The linked terms allow legally competent Indian entities, including individuals, institutions, societies, companies, government companies, PSUs and ministries. Clause 30(g) also allows NRIs who meet the criteria, including PAN, proof of residence in India and a signature attested by the Indian nationalised bank where they hold an account; payments must be in Indian rupees under Indian law. Employees of Air India, AIAHL and their subsidiaries are excluded. Institutions, societies and companies must supply documentary proof such as their latest annual report and constitutional documents. The consortium clause points to an unrelated payments clause, so consortium requirements need clarification. Confirm these linked terms’ current applicability and the required upload documents with AIAHL.
Catalogue header, upload table and undertaking attachment checked 27 October
What must be uploaded, and is participation open?
MSTC publishes document upload from 27 October at 00:00:00 to 12 November at 23:59:59 IST, but the catalogue still shows “Not Activated”. Its undertaking attachment returned “File not found” when checked. Obtain the current undertaking, complete document checklist and confirmation that uploads are available from AIAHL/MSTC. The published upload period does not by itself establish approval to bid or an EMD payment deadline.
Catalogue pre-bid EMD instructions; linked terms clauses 5 and 23
When and how is the ₹35 lakh EMD paid?
The catalogue requires the lot’s ₹35 lakh pre-bid EMD through MSTC’s “PAY PRE-BID EMD” RTGS/NEFT route before the auction starts; bank processing and ledger credit can take time. Its general instructions recommend paying at least one day in advance. The linked terms also contain a before-close payment instruction, which differs from the catalogue’s before-start requirement. Confirm the binding cutoff and correct payment route with AIAHL/MSTC before transferring funds. The 12 November document-upload cutoff must not be assumed to be the EMD cutoff.
Catalogue header and lot 1; special terms clauses 2(a)(xii), 5, 12, 23(d) and 27–28, PDF pp. 2, 4, 7–8 and 11; note F p. 19; Annexure A, PDF p. 20
What will the winner pay, and why do the schedules differ?
The current catalogue lists 25% post-bid EMD within 10 days of acceptance, balance within 60 days and late charges of 1% per week plus GST, unless otherwise specified. The linked special terms instead require 20% within 10 working days of the Acceptance Letter and the balance, adjusted for the pre-bid EMD and first instalment, within 45 days, counting the letter’s issue date. Those terms contain an earlier 25-26/29053 auction reference and an empty property annexure. Clause 12 and note F give the special terms precedence over general and buyer-specific terms, supporting the shorter schedule. But the terms also contradict themselves: clause 5 adjusts EMD against a “third instalment” under clause 28, while clauses 23(d) and 27 use the second instalment; clause 28 is about the sale deed. These errors and the earlier reference leave the operative instructions unresolved. Obtain the governing schedule in writing; do not budget on the longer 60-day period or add both initial percentages together.
Catalogue lot 1; linked terms clauses 9(d), 25 and 30(i)
Which charges are additional?
The catalogue lists GST as applicable and 2% TCS. The linked terms put stamp duty, registration, transfer permissions or premiums and statutory approvals at the buyer’s expense. Clause 9(d) says MSTC’s service charge, including GST, is already included in the quoted successful-bid price; its rate is not given. Confirm the applicable tax treatment, service-charge split and other costs with AIAHL rather than adding that service charge a second time. The ₹6.81 crore starting bid is not an all-in budget.
Linked terms clauses 8(a), 23–24, 27 and 30(h); catalogue post-bid EMD and refund instructions
What could be forfeited, and when is EMD refunded?
Under the linked terms, a missed instalment has a further 30-day period at 18% simple annual interest; failure to pay the whole overdue amount and interest can terminate acceptance and forfeit the pre-bid EMD and all other payments. Financing delays are the buyer’s responsibility. A wrong bid forfeits the EMD. The catalogue forfeits the highest bidder’s pre-bid EMD if the post-bid deposit is not paid. Clause 30(h) permits cancellation and forfeiture of all amounts paid, including EMD, for a breach left uncured after a 15-day notice period or incapable of cure. It says AIAHL may give that notice; a cure period is not assured. Applications from excluded employees may also forfeit any or all payments. Non-highest bidders must request their refund through MSTC; the stated request window is 6:00 AM–12:05 PM IST on the day after auction close, with refund within three working days of the request. The highest bidder’s EMD is retained as security. Confirm the operative terms and refund process before payment, particularly given the payment conflict above.
Linked terms clauses 7, 11, 25 and 30; current catalogue lot 1
Does the highest bid guarantee the property?
No. The linked terms make sale subject to acceptance and definitive documents. They require bids to remain valid for 180 days after the auction closes and allow the seller to withdraw before definitive documents, including after acceptance. They provide for refund without interest in the stated withdrawal circumstances. The sale is on an as-is, no-complaint basis, with title, encumbrance, boundary and use checks assigned to the bidder. The known encroachment and municipal restrictions need their own assessment; an old possession letter does not remove them.