Maharashtra cabinet OKs plan to buy AI building for Rs 1,601 crore

The Maharashtra cabinet has approved the purchase of the Air India Building in Nariman Point to house government offices. The state will pay Rs 1,601 crore to Air India Assets Holding Ltd for the iconic sea-facing building, which offers 46,470 sq m of space. The move is expected to save the government around Rs 200 crore in annual rent. The building currently houses tax departments and government-run undertakings, which will need to vacate the property.

from Times of India https://ift.tt/Bbao0Gy