The government has listed real estate assets of MTNL and BSNL for sale at a reserve price is around Rs 9.7 billion.

BSNL properties located in Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of about Rs 6.6 billion.

Further, MTNL assets located in Vasari Hill, Goregaon in Mumbai have been listed for sale at a reserve price of about Rs 3.1 billion.

MTNL’s 20 flats located in Oshiwara have also been put up for sale as part of the asset monetisation plan of the company.

The flats include two units of 1-room set, 17 units of 1 bedroom hall and kitchen (BHK) and one unit of 2 BHK. Their reserve prices range from Rs 5.23 million to Rs 15.9 million.

The e-auction for MTNL assets will take place on December 14, 2021.

The asset monetisation is part of the Rs 690 billion revival scheme for MTNL and BSNL which was approved by the government in October 2019. Both the public sector firms were to identify and monetise assets worth Rs 375 billion by the year 2022.

The entire process of the first stage of asset monetization of MTNL and BSNL is expected be completed within one-and-half months. Bids have been invited for MTNL and BSNL real estate assets.