Mumbai's 5-Decade-Old Iconic Air India Building With 'Numerous Firsts' Sold for ₹1601

Mumbai: The iconic Air India building in Mumbai that has been standing tall for over five decades now has finally got a new owner. The central government, on Thursday, announced approving the transfer of the Air India building, once owned by JRD Tata, to the Maharashtra government for a whopping ₹1601.  

Built on land reclaimed from the sea in the 1970s, the building had people queuing up just to have the experience of using an elevator. The 23-storeyed building was designed by New York-based architect John Burgee and boasted of 'numerous firsts' including elevators, neon signage on top, and two levels of basement parking, among other modern facilities.

The building, also earthquake-resistant, was rocked by a bomb blast in 1993. Besides, the building also witnessed its share of cinematic moments as many Bollywood movies had featured it. 

Constructed on the state government's land in the plush sea-facing Nariman Point, the building had a board room on its 23rd floor besides centralised air conditioning facilities and elevators with piped music.

A retired airline official told PTI, “During the Gulf boom in the 1980s, job seekers used to flock to the Air India booking counter. As many as 400 people would visit the place to book flight tickets to various Gulf countries.”

As per the Godrej archive, “Interestingly, Godrej fabrications can be found on both these buildings. While 1,502 windows were supplied and fitted in the Air India building, at the Express Towers, false ceilings with trapezoid perforations made possible by the skills of the Panchals were installed, along with aluminium frame.”

DIPAM Secretary Tuhin Kanta Pandey said in a post on X wrote, “GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd (AIAHL) to Government of Maharashtra (GoM) at consideration of Rs 1,601 cr. GoM has agreed to waive dues of Rs 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction.”

GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd to Government of Maharashtra (GoM) at consideration of Rs.1601 cr. GoM has agreed to waive dues of Rs. 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction

— Secretary, DIPAM (@SecyDIPAM)

While Tata Group took over Air India in January 2022, the airline's non-core assets, including land and buildings, were transferred to AI Assets Holding Company Ltd (AIAHL).

(with PTI inputs)