The Maharashtra government has offered Rs 1,400 crore to take over the iconic air India building at nariman point Mumbai. While the offer is Rs 200 crore less than the building’s reserve price.
Maharashtra had leased the sea-facing property to Air India in 1970 for a 99-year tenure. air India has run into debt worth Rs 50,000 crore, had first put up the sale of leasehold rights of the land and the building in December 2018. It had recently asked for an Rs 30,000-crore bailout package from the finance ministry, which was rejected.