Maharashtra Acquires Air India Building For ₹1,601 Crore

JUST IN: Maharashtra government has acquired the iconic Air India building in Mumbai for ₹1,601 crore. The building, located at Nariman Point, provides 46,470 sq m of space across a 23-storey tower. Officials said the acquisition aims to consolidate government offices and alleviate space constraints. The state finance department has transferred ₹1,601 crore to the Public Works Department (PWD) to finalise the transaction.

JUST IN: Maharashtra government has acquired the iconic Air India building in Mumbai for ₹1,601 crore. The building, located at Nariman Point, provides 46,470 sq m of space across a 23-storey tower. Officials said the acquisition aims to consolidate government offices and alleviate space constraints. The state finance department has transferred ₹1,601 crore to the Public Works Department (PWD) to finalise the transaction.

Deal Finalised After Years Of Negotiations

DEVELOPING: The Centre approved the sale of the building to the Maharashtra government for ₹1,601 crore in March 2024. The state cabinet cleared the acquisition in November 2025. A senior Public Works Department (PWD) official said the draft agreement would be sent for vetting to avoid any lacunae and is likely to be signed within the next two weeks. According to sources, the funds have already been transferred to the Executive Engineer of the Mumbai City Division under the PWD.

Renovation Plans For The Building

CONFIRMED: Once the agreement is signed and the property is transferred, the state government will undertake internal renovations and make the 23-storey sea-facing structure operational within a year. The government plans to shift several offices, many of which currently function from rented spaces, to the new building. Experts said the acquisition will give the government access to over 45,000 sqm of office space, just a few minutes away from Mantralaya, the state government's headquarters.

History Of The Air India Building

The Air India building was constructed in 1970, when Air India decided to have its new headquarters at Nariman Point, the then emerging commercial hub of Bombay (now Mumbai). The building was sold to the Government of Maharashtra for ₹1,601 crore in 2024. Historically, the building was the headquarters of Air India, and the airline's iconic mascot, the 'Maharajah', was created by its former commercial director Bobby Kooka in 1946.

Impact On The Government And Citizens

The acquisition of the Air India building is expected to have a significant impact on the government and citizens. Government sources said the new building will provide a more efficient and effective workspace for government employees, and will help to reduce the burden on the state exchequer. Citizens can expect better services and more efficient governance from the government. Witnesses said the acquisition is a positive step towards improving the infrastructure of the state government.

📖 Read Full Article on NewsPulse →