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The Maharashtra authorities has formally acquired the iconic Air India building, a defining diagnostic of the southbound Mumbai skyline known for its premier sea-facing location, for ₹1,601 crore.
“The transportation of agreements betwixt Air India Assets Holding Company and the State Public Works Department was completed successful the beingness of Chief Minister Devendra Fadnavis astatine the State Secretariat ‘Mantralaya’ pursuing a Cabinet gathering connected Tuesday (June 2, 2026),” an authoritative merchandise said.
The Air India building, a 23-storey sea-facing commercialized operation astatine Nariman Point successful southbound Mumbai built successful 1974 connected State government-owned reclaimed land, has agelong been 1 of the city’s landmarks, known for drafting crowds successful its aboriginal days for experiences similar riding its elevators.
Following the privatisation of Air India and its acquisition by the Tata Group, its non-core assets, including this building, were vested with Air India Assets Holding Limited (AIAHL). The Maharashtra government, facing an bureau abstraction crunch successful premier South Mumbai areas adjacent Mantralaya, had been successful talks since astatine slightest 2021 for the acquisition of the property.
In November 2023, the State Cabinet had approved the acquisition for ₹1,601 crore and decided to waive astir ₹298 crore successful unrealised income and involvement dues owed by AIAHL. The Centre had granted last support for the transportation successful March 2024.
The woody moved person to completion successful April this twelvemonth with the Finance Department transferring ₹1,600 crore to the Public Works Department (PWD) for finalising agreements, aiming to consolidate authorities offices, successful the implicit 45,000 sqmt structure, and trim rental expenses.
PWD Minister Shivendrasinh Bhosale, who was contiguous during the ownership transfer, said the State authorities took possession of the gathering aft acquiring the spot from AIAHL for ₹1,601 crore.
At a reappraisal gathering held aft the handover, Minister Bhosale directed officials to behaviour a broad structural audit and undertake each indispensable repairs earlier relocating authorities offices to the premises. He said interior renovation and different improvement works should statesman lone aft structural information concerns are addressed.
All repair and refurbishment enactment should absorption connected prime and semipermanent sustainability, helium stressed and instructed officials to guarantee precocious standards for electrical systems, fittings and different method infrastructure.
The Minister said the building's main entranceway should beryllium redesigned to bespeak Maharashtra's heritage, and suggested involving starring architects and adept agencies successful the project. He directed officials to expedite administrative approvals required for the renovation enactment and guarantee timely completion of the project.
“The transportation of the Air India gathering to the Maharashtra authorities is an important milestone successful strengthening the State's administrative infrastructure. The gathering volition beryllium developed arsenic a exemplary authorities analyzable with precedence fixed to quality, sustainability and national convenience,” helium said.
Deputy Chief Minister Sunetra Pawar, Tourism Minister Shambhuraj Desai, Public Works Minister Shivendrasinhraje Bhosale, Chief Secretary Rajesh Agrawal, Additional Chief Secretary (PWD) Milind Mhaiskar, Mumbai City Collector Anchal Goyal and officials of Air India attended the event, marking the ceremonial transportation of ownership.
