Maharashtra govt set to buy iconic AI building for Rs 1,600 crore | India News – Times of India

Maharashtra govt set to buy iconic AI building for Rs 1,600 crore | India News – Times of India

MUMBAI: The Maharashtra government is all set to buy the iconic Air India building at Nariman Point and turn it into an extension of Mantralaya. AI Assets Holding Ltd, which owns the building, had ‘in-principle’ agreed to the last state government offer of Rs 1,600 crore, a cabinet minister confirmed to TOI.
The state government clarified it will only complete the deal if the Centre removes all belongings, vacates all existing offices and hands over “100% unencumbered possession” of the 23-storey building.
Three years after evincing interest in buying the milestone, the state made another push for it last November and made an offer of Rs 1,600 crore. Officials said the previous government had offered around Rs 1,450 crore. Deputy CM Devendra Fadnavis had met civil aviation minister Jyotiraditya Scindia last year and urged him to give preference to Maharashtra government in its attempt to sell it.
The minister said: “We have been told the AI Assets Holding Ltd has in-principle agreed to give it to us. Finer details will be worked out but our offer is conditional. We were told offices of GST and I-T department run out of there. We will only go ahead with the deal if we get vacant possession.” Ministerial offices can be shifted to the AI building and all offices in private buildings can be accommodated in Mantralaya, an official said.

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