Maharashtra Govt Offers ₹1,400 Crores for Mumbai’s Iconic Air India Building

Debt-ridden Air India had sought ₹30,000 crore from the Finance Ministry but the appeal was rejected. After JNPT and LIC showed interest in buying it, the state government has offered ₹1,400 crores

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The Maharashtra government is in talks to purchase the iconic building of Air India at Nariman Point in Mumbai. For this, the government has offered the maximum price of ₹1,400 crores which is ₹200 crores less than the original price.

The 23-storey building is in debt of ₹50,000 crores and had sought ₹30,000 crores from the finance ministry, but it was rejected.

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Notably, Jawaharlal Nehru Port Trust (JNPT) offered ₹1,375 crores and Life Insurance Corporation of India (LIC) had made a bid of ₹1,200 crores.

This is the first time when the state government is buying a property which it had given on lease. The sea facing building is spread across 2,20,000 sq.ft. and includes State Bank Of India (SBI), Tata Consultancy Service (TCS) and Directorate General of Shipping as its tenants.

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