As per industry sources, Bharat Sanchar Nigam Limited’s (BSNL’s) plans to garner about Rs 12.50 billion by selling more than 54.6 acres of its landed properties in Chennai is likely to face hindrance as the Tamil Nadu government has restricted the move.
BSNL had been informed by the state revenue department in December 2021 that the land parcels, located in such premium commercial and residential localities like Egmore, Flower Bazaar, Triplicane, Royapettah and Vyasarpadi and suburban areas like Ennore, Ambattur and Chengalpet town could not be monetised without the consent of the Tamil Nadu government. BSNL had identified eight prime properties for sale in the first phase of its asset monetisation plan.
While the title for most of the land parcels that were given by the Tamil Nadu government to the Department of Telecommunication (DoT) in the past were transferred in the name of BSNL, there were certain problems in a few land parcels. Citing the reason, the state government of Tamil Nadu said that since the lands were originally acquired by the state government and allotted to the DoT for a specific purpose, the assets could not be sold or used for any other purpose.
