BSNL plans to monetise 7.5 acres of prime land in Lucknow via e-auction, setting a reserve price of INR 226 crore. The land is part of a larger parcel which hosts a telephone exchange and customer service center across 0.63 acres while the rest is vacant. NLMC appointed CBRE South Asia to manage the sale. Eligible bidders include individuals, companies, LLPs, trusts, and funds. Bidders must upload documents from February 15-22, with the e-auction date to be announced later. This move aligns with BSNL's contribution to the National Monetisation Pipeline, aiming to monetise non-core assets like tower businesses and other properties.
Bharat Sanchar Nigam Limited (BSNL) is initiating the monetisation process for a prime 7.5-acre land parcel located in Lucknow. This strategic move aims to unlock the value of the property by selling plots to successful bidders through an e-auction platform. The land parcel is situated at Telecom Compound, Vibhuti Khand in Lucknow and spans a total area of 8.166 acres. Within this area, BSNL has dedicated 0.63 acres for housing a telephone exchange and a customer service center. The remaining 7.53 acres, currently vacant, is the focus of this monetisation initiative.
The reserve price for the bids has been set at INR 226 crore. This figure represents the minimum bid price that any potential bidder can propose for the acquisition of this valuable property.
To facilitate the process, the National Land Monetisation Corporation (NLMC), a government agency tasked with overseeing the monetization of non-core assets of Central Public Sector Enterprises (CPSEs), has engaged CBRE South Asia to act on behalf of BSNL. CBRE South Asia's role is crucial in identifying and selecting the most suitable bidder for the property in question.
Eligibility to participate in the bidding process is extended to a diverse range of entities, including individuals, companies, Limited Liability Partnerships (LLPs), partnerships, societies, trusts, and private equity funds. However, it is imperative that these entities possess the legal capacity to enter into a binding contract. Interested bidders are required to upload all necessary documents between February 15 and February 22.
Following the submission of technical bids, the date for the e-auction will be communicated to the eligible bidders. This ensures a transparent and fair process in determining the successful bidder for the property.
It is important to note that BSNL's land monetization initiative aligns with the broader objectives outlined in the National Monetization Pipeline. As part of this initiative, both BSNL and MTNL are tasked with monetizing their tower business and other assets to optimize their resource utilization and enhance operational efficiency.
In summary, BSNL's decision to monetize a 7.5-acre land parcel in Lucknow represents a strategic move aimed at unlocking the value of its non-core assets. This initiative is not only in line with the government's broader monetization objectives but also underscores BSNL's commitment to prudent asset management and resource optimization.
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