The rest of the space is occupied by various government and private enterprises. “We could not lease the space earlier as the Maharashtra government was supposed to take over the building. With the new government in place, we don’t have any clarity yet, so it is better to rent out the space on short-term lease. The airline is earning Rs 100 crore in rent annually for the entire building.The national carrier had taken the land on lease from state government and constructed the building, which has two basements, in 1970. Seventeen floors have been leased out to various firms and government departments including Bank of India, India Tourism, Income Tax, Service Tax and IT services provider TCS.“The civil aviation ministry and Maharashtra government will decide on the sale part, but there has been co communication since the new government has taken over,” said another Air India official.

Source: Economic Times January 01, 2020 03:11 UTC