The iconic Air India buiding at Mumbai's Nariman Point is set to be acquired by the Maharashtra government.
According to reports, Maharashtra's Chief Minister Eknath Shinde-led government will buy
the iconic building for ₹1600 crore.
Debt-ridden Air India had floated tenders for the sale of the 23-storey building, in which the state government, the Centre-owned Jawaharlal Nehru Port Authority (JNPA) and Life Insurance Corporation (LIC) of India were the bidders.
In 2019, the state bid ₹1400 crore for AI, while JNPA ₹1375 crore and LIC ₹1200 crore. After the Eknath Shinde-led government assumed office in June, 2022, the state government revised the bid to ₹1600 crore against AI’s ask of ₹2000 crore.
The Nariman Point building was put up for sale in 2018 as part of asset-monetisation plans. The State Bank of India recently vacated a few floors it occupied.The building measures 4.99 lakh sq feet and has two basements and a tunnel.