Maharashtra govt set to buy iconic Air India building

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.