Maharashtra government moves closer to seal Air India building...

The Maharashtra government has moved closer to acquiring the landmark Air India Building at Nariman Point in Mumbai for Rs 1,601 crore, completing a years-long pursuit of the prominent waterfront tower. The transaction transfers the property from the central holding entity to the state.

The state cabinet had approved the purchase earlier and the Centre subsequently cleared the transfer, with funds routed through the Public Works Department to finalise the agreement. The deal gives the government around 46,470 square metres of office space close to the state secretariat.

Officials plan to consolidate several departments currently operating from rented premises into the building, reducing recurring lease costs. Given that the structure is more than five decades old, a comprehensive structural audit has been ordered before offices are relocated.