As per industry sources, the government has started the process of selling 20 properties of state-owned MTNL in Mumbai. Further, the government is also seeking bids for MTNL’s 1.4-acre residential plot at Vasari Hills in Goregaon, which has a reserve price of Rs 2.7 billion.
To this end, an expression of interest (EOI) is believed to have been floated for the Vasari Hills plot. JLL Property Consultants is overseeing the process. Apart from this, there are around 20 flats at Oshiwara which are also being sold, and the process is being handled by Knight Frank India.
In a related development, high-level meetings have also been held between Ministry of Housing and Urban Affairs and the Department of Telecommunications (DoT) for various relaxations and exemptions from Delhi Development Authority (DDA).
The discussions have been undertaken with the respective local authorities to relax the floor space index (FSI) of BSNL/MTNL sites to enhance profit margins before the sale of the properties.
No objection certificate (NoC) for sale has been received in case of 20 properties in Delhi from the DDA. The auction process is expected to be completed by the end of March 2022.
Meanwhile, with regards to BSNL, properties have been identified at Bhavnagar in Gujarat (handled by Knight Frank), Hyderabad in Telangana (CBRE South Asia), Madhyamgram in West Bengal (Cushman and Wakefield), and Rajpura in Punjab (JLL Property Consultants).
