Maharashtra to buy iconic Air India building for whooping Rs 1600 cr
State-owned AI Assets Holdings Ltd, which owned the building has in principle agreed to give the building to the state government
Mumbai: The Maharsahtra government is all set to buy the iconic Air India building at Nariman Point at a whooping of Rs 1600 crore. They want to turn the building as an extension of Mantralaya.
State-owned AI Assets Holdings Ltd, which owned the building has in principle agreed to give the building to the state government.
Deputy Chief Minister Devendra Fadanvis met Union Civil Aviation Minister Jyotiraditya Scindia last year and urged to give preference to Maharashtra in its attempt to sell the iconic building at Nariman point.
The first offer to buy the building was reportedly made when Fadnavis was the CM. The talks only resumed in 2021 under MVA government but no deal was finalised.
On Tuesday, Fadnavis also said the state government would take the building only if it was handed complete vacant.
The AI officials had told the state government that the valuation of the building was more than Rs 2,000 crore. The government needs to recover due from Air India to the tune of Rs 300 crore.
The Maharashtra government had handed the land for the sea-facing property to Air India in 1970 for a 99-year lease.
The state of Maharashtra has been one of the parties interested in the commercial tower by the Arabian Sea, as it has a shortage of space for its departments, and all offices in private building could be accommodated in Mantralaya.
Kalinga AI