Maharashtra government formally acquires Mumbai’s iconic Air India building at Nariman Point for ₹1,601 crore, according to multiple reports. The 23-storey, sea-facing commercial tower—built in 1974 on reclaimed land owned by the state—has been a well-known landmark in south Mumbai. The deal follows the building’s vesting in Air India Assets Holding Limited (AIAHL) after Air India was privatized and acquired by the Tata Group, with non-core assets held by AIAHL.
Several outlets report that the transaction involves transferring agreements from AIAHL to the state Public Works Department after a cabinet meeting. NDTV and Business Standard add that the transfer is completed in the presence of Chief Minister Devendra Fadnavis at the state secretariat, Mantralaya, as part of the formal acquisition process.
The state government says one key aim is to consolidate government offices currently spread across rented premises in Mumbai into the Nariman Point building. Reports cite the potential to reduce annual spending, which is estimated at around ₹200 crore on rented office space, and address an office-space crunch.
