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BusinessBSNL initiates auction of 27 land parcels spread across key Indian states...

BSNL initiates auction of 27 land parcels spread across key Indian states and UTs

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BSNL looks to monetize assets, puts prime properties on auction block across several states

In a major step towards realising the assets of state-run telecom firms, Bharat Sanchar Nigam Limited (BSNL) has initiated the process of auctioning 27 valuable land parcels located in 11 states and union territories of . Spread across key regions like Andhra Pradesh, Gujarat, Karnataka, Kerala, Uttar Pradesh and others, these properties include telephone exchanges, administrative buildings and residential complexes located in urban centers.

With a combined reserve price of Rs. 476 crores, the properties will be put on an e-auction platform next month after an online pre-bid meeting scheduled this week. This comes as part of the central government's asset monetization program to unlock the worth of non-core assets held by public sector entities. BSNL aims to raise capital by divesting these surplus land and property holdings in prime cities and towns.

In addition to the initial batch of 27 properties, BSNL is understood to possess over 500 more land parcels and buildings across the nation, amounting to an estimated 100 acres in total area. Meanwhile, MTNL, the other state-owned telco, is also preparing its own list of real estate in New Delhi and Mumbai to participate in the monetization drive.

As the Department of Telecommunications pushes for optimal utilization of resources, it has requested all central ministries and state administrators to consider outright purchase of BSNL and MTNL properties if suitable for their usage. With locations in major commercial hubs, these state-held assets present a lucrative opportunity for public agencies seeking real estate on negotiated rates. As BSNL looks to strengthen its balance sheet via non-core sales, many more of its property holdings could be auctioned off to state and central PSUs in the future.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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