The Union government has approved the transfer of Air India building in Mumbai to the Government of Maharashtra at a consideration of Rs1,601 crore.

National

The Union government has approved the transfer of Air India building in Mumbai to the Government of Maharashtra at a consideration of Rs1,601 crore. The state government also agreed to waive dues of Rs298.42 crore, which would have been otherwise payable by AI Assets Holding Ltd (AIAHL) to GoM for this transaction. The 23-storey building has 46,470 square meters of space, which was constructed in 1974 on land owned by the Maharashtra government. The new owner is expected to use the building to house its offices.


      AIAHL is the special purpose vehicle (SPV), which was incorporated on 22 January 2018 to own and manage residual non-core assets, including paintings and artefacts, of state-run Air India, which was subsequently sold to the Tata group.

      The government had accepted Tata Sons’ bid for its flagship carrier for Rs18,000 crore in October 2021.

     

 

     


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