MUMBAI: The Maharashtra government has moved closer to acquiring the iconic Air India building in south Mumbai after the Finance Department transferred Rs 1,600 crore to the Public Works Department, setting in motion the process to finalise the agreement with Air India Assets Holding Limited.A senior Public Works Department (PWD) official said the draft agreement would be sent for vetting to avoid any lacunae and is likely to be signed within the next two weeks.
The Centre approved the sale of the building to the Maharashtra government for Rs 1,601 crore in March 2024, and the state cabinet cleared the acquisition in November 2025.
Once the agreement is signed and the property is transferred, the state government will undertake internal renovations and make the 23-storey sea-facing structure operational within a year. It plans to shift several offices, many of which currently function from rented premises, to the building located near the Mantralaya at Nariman Point.
The move comes amid a space crunch at the Mantralaya and its annexe. After a major fire at the secretariat complex in 2012, several departments shifted to different parts of the city, leading to continued expenditure on rented offices.
Officials said the acquisition will provide around 46,470 square metres of office space in close proximity to the state secretariat, helping streamline administrative functioning.
29/04/2026 PTI/Times of India
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