Bharat Sanchar Nigam Limited (BSNL) has initiated the process of formalising the ownership of real estate assets transferred in 2000, by the Department of Telecommunications (DoT). This is aimed at unlocking the value of BSNL’s property assets to improve its valuation prior to a potential listing in early 2012.
Though BSNL has substantial land holdings, it does not own the land or the properties transferred over ten years ago. Ownership still lies with DoT.
All of the operator?s circle heads have been asked to initiate the process of property registration with the concerned civic authorities for the transfer of ownership across the country. As the first step, these officials will be required to compile a list of all land holdings, commercial, residential and heritage buildings in their respective circles. This list is likely to include detailed notings of all disputed and encroached property, along with an assessment of their valuation.
However, the operator may have to pay a substantial amount as stamp duty.
