The Department of Investment and Public Asset Management (DIPAM) has initiated the land assets monetisation process of MTNL and has invited bids from global property consultancy firms for managing the sale process. The deadline to submit the financial bid is November 09, 2020 and the chosen firms will carry out the monetisation process for flats, apartments and plots of MTNL which have been divided into five clusters.
DIPAM has said that the consultancy firms empanelled will be required to prepare the ‘Feasibility Report’ in about three weeks for each of the assets allocated to them. In addition, they have to provide end-to-end transaction advisory services and ensure completion of these transactions.
As part of this process MTNL has already submitted a set of assets to DIPAM for monetisation. This includes three land parcels, two staff quarters and a telephone exchange along with staff quarter in Mumbai.