MTNL and BSNL real estate assets worth 970 crore to be put on sale by the government

All properties of BSNL situated in the city of Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of around Rs 660 crore. Properties will be sold at the reserve prices only according to DIPAM.

According to documents uploaded on the DIPAM website, the government has listed for sale real estate assets of state-run telecom firms MTNL and BSNL. The sale is listed at a reserve price of around Rs 970 crore.

All properties of BSNL situated in the city of Hyderabad, Chandigarh, Bhavnagar and Kolkata have been placed for sale at a reserve price of approximately Rs 660 crore. Properties will be sold at these reserve prices only according to DIPAM.

The Department of Investment and Public Asset Management (DIPAM) website has listed MTNL assets located in Vasari Hill, Goregaon in Mumbai for sale at a reserve price of around Rs 310 crore.

As a part of the asset monetization plan of the company, MTNL’s 20 flats in Oshiwara have also been raised for sale. The asset monetization is an aspect of the Rs 69,000 crore revival scheme for MTNL and BSNL which was authorized by the government in October 2019.

Their reserve prices vary from Rs 42.26 lakh to Rs 1.59 crore. The flats comprise two units of the 1-room set, 17 units of 1 bedroom hall and kitchen (BHK), and one unit of 2 BHK.  It was also revealed that the e-auction for MTNL assets will take place on December 14.

By 2022 both the public sector corporations were to recognize and monetize assets worth Rs 37,500 crore.