NEW DELHI: The National Land Monetization Corporation (NLMC) has taken over two land assets of BSNL for monetisation. government sources told TNIE that two plots of lands of the government-owned telecom company hve been valued around Rs 1,500 crore. The two plots of land are based in Lucknow and Hyderabad.
These will be the first land assets to be monetised by NLMC, which has been incorporated by the government to undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other Government agencies.
Sources told that though BSNL has valued the two lands at Rs 1,500-crore, the NLMC will hire international property consultants to value the properties independently. “The valuation will be based on a number of factors including saleability of the two plots, land use, etc,” a government official said.
The official mentioned above also revealed the NLMC has taken control of a few flats belonging to BSNL and Hindustan Copper Ltd in Prayagraj. The corporation is in the process of taking control of some more buildings and flats in Mumbai, Kolkata and Delhi.
NLMC was incorporated in 2022. The government has stated CPSEs undergoing strategic disinvestment or closure, monetisation of surplus land and non-core assets is important to unlock their value. NLMC will support and undertake monetisation of these assets.
When asked if the government has given any monetization target to NLMC, the official said there are no such targets. “We cannot have a target unless we know which CPSE has how much surplus land or unused buildings. This is an assessment that respective CPSEs will have to do on their own and then inform the NLMC to take over those assets,” said the official.