BSNL & MTNL Real-Estate Assets Worth ₹970 Crores Up For Sale

Government authorities have put up sale listing of real-estate assets of BSNL & MTNL in Hyderabad, Chandigarh, Kolkata, Bhavnagar & Mumbai for a reserve price of ₹970 crores in total. BSNL & MTNL are state-run telecom & internet service providers, the documents of the real-estate assets of BSNL & MTNL listed for sale are uploaded on the Department of Investment and Public Asset Management (DIPAM) website.

The properties up for sale in Hyderabad, Chandigarh, Kolkata & Bhavnagar will be up for bidding at a reserve price of ₹660 crores – these are properties owned by BSNL. The assets owned by MTNL, which are located in Vasari Hill, Goregaon in Mumbai have a reserve price of ₹310 crores. 20 MTNL owned flats in Oshiwara are also up for sale. The MTNL owned flats in Oshiwara 2 units of single-room sets, 17 units of 1 BHK flat (bedroom, hall & kitchen) and 1 unit of a 2BHK flat. The reserve prices of these flats vary from 52.26 lakh to ₹1.59 crores.

The sale of these assets is part of the asset monetization plan being put into action to identify and generate funds by the end of 2022. The asset monetization plans of BSNL & MTNL assets are part of a ₹69,000 crore revival scheme by the government of India to improve the services, technology and reach of these telecom-cum-internet service providers. The revival scheme for BSNL & MTNL was approved by the government back in October 2019. As part of the revival scheme, BSNL & MTNL must identify assets for monetization and generate a sum of ₹37,500 by 2022.

Bids for the e-auction have been invited, the e-auction for the MTNL assets listed is scheduled to be conducted on 14th December 2021. These assets listed for sale are part of the first stage of asset monetization for BSNL & MTNL, BSNL & MTNL officials overseeing the asset monetization plan to generate ₹970 crores or more from these assets and complete the whole process in the next 6 weeks.

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