Infrastructure Leasing & Financial Services Limited (IL&FS) is auctioning 59 flats located in the Residency Park complex in Virar, Maharashtra, as part of its ongoing asset monetization efforts following a significant debt crisis. The auction includes 14 three-bedroom, 44 two-bedroom, and 1 one-bedroom unit, with reserve prices set below current market values. For instance, a one-bedroom flat has a reserve price of ₹30 lakh (approximately $36,000 USD), while two-bedroom units are priced at ₹40 lakh against a market value of around ₹50 lakh. This is IL&FS's third attempt to sell these assets, with previous efforts yielding limited results, selling only five units for a total of around ₹1.15 crore. The properties are being sold under the supervision of the National Companies Law Tribunal (NCLT) and managed by Cushman & Wakefield, which has been tasked with facilitating the sale. IL&FS, which defaulted on over ₹99,000 crore (approximately $12 billion USD) in debt in 2018, has been actively monetizing its assets across India to address its financial obligations.