The Maharashtra government has acquired Mumbai's landmark Air India Building at Nariman Point for INR 1,601 crore, paving the way for the relocation of several state government offices to the prime South Mumbai property.
The transfer agreement was signed between the state government and Air India Assets Holding Limited (AIAHL), completing a process that began after the airline's privatisation. The 23-storey building, which served as Air India's headquarters for decades, is one of Mumbai's most recognisable commercial landmarks.
Officials said the acquisition is aimed at addressing the shortage of office space for government departments and reducing expenditure on rented premises. The building's proximity to Mantralaya is expected to improve administrative coordination and efficiency.
The state government had approved the purchase earlier, with funds allocated through the Finance Department to complete the transaction. Following the takeover, authorities plan to conduct a detailed structural audit before shifting government offices to the premises.
Public Works Department officials said renovation and modernisation work will be undertaken to ensure the building meets current safety and operational standards. Plans are also being considered to redesign portions of the property to reflect Maharashtra's cultural identity.
The acquisition marks one of the state's biggest property purchases in recent years and is expected to significantly strengthen administrative infrastructure in Mumbai.
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