Maharashtra Government Acquires Iconic Air India Building in Mumbai for ₹1,601 Crore

In a landmark real estate transaction, the Maharashtra government has formally acquired the iconic Air India building in south Mumbai for ₹1,601 crore. The prominent sea-facing property, a defining feature of Mumbai's skyline for decades, has now been transferred to the state government.
The transfer agreement between Air India Assets Holding Company Limited (AIAHCL) and the Maharashtra Public Works Department (PWD) was officially completed at the state secretariat, Mantralaya, following a cabinet meeting. Chief Minister Devendra Fadnavis was present during the signing and transfer process.

Located at one of Mumbai's most prestigious addresses along Marine Drive, the Air India building has long been recognized as a landmark structure overlooking the Arabian Sea. The acquisition is expected to strengthen the state's administrative infrastructure while preserving an important architectural symbol of the city.

According to an official release, the transaction marks the successful completion of negotiations between the state government and Air India Assets Holding Company. The Maharashtra government is expected to determine the future utilization of the building in the coming months.

The acquisition highlights the state's strategic investment in prime urban infrastructure and reinforces Mumbai's status as India's financial and administrative hub.