Mumbai: The Maharashtra government acquired the iconic Air India building at Nariman Point for Rs 1,601 crore, completing a long-pending transaction aimed at addressing office space constraints faced by various state departments.
The transfer agreement between Air India Assets Holding Limited (AIAHL) and the state Public Works Department (PWD) was executed in the presence of Chief Minister Devendra Fadnavis at Mantralaya following a cabinet meeting, reported The Hindu.
The 23-storey sea-facing structure, one of Mumbai’s most recognisable landmarks, is located at Nariman Point and has long been associ
ated with the national carrier Air India. The building was originally constructed in 1974 and served as Air India’s headquarters before the airline shifted its corporate operations to New Delhi in 2013.
According to official statements, the acquisition is intended to ease the long-standing shortage of office space near Mantralaya. The state government plans to relocate several departments currently operating from rented premises across Mumbai to the newly acquired building.
The deal had been under consideration for several years. The Maharashtra cabinet had approved the acquisition earlier, while the Centre subsequently cleared the transfer of the property from AIAHL to the state government. The transaction moved closer to completion after funds were transferred to the PWD to finalise the purchase.
Officials said the government will undertake structural audits and prepare renovation and redevelopment plans before converting the premises into a modern government complex. The move is expected to help consolidate administrative offices and reduce expenditure on rented office spaces.
The formal takeover marks the beginning of a new chapter for the landmark building, which has been a prominent feature of Mumbai’s skyline for decades.ob