BSNL Starts Land Monetisation to Bail Out of Current Financial Crisis

Public sector Bharat Sanchar Nigam Ltd (BSNL) is in the process identifying land parcels all over the country for monetisation, which as per its internal estimate is valued at Rs 20,000 crore in 2018-19. The state-run telecom major’s corporate office has circulated a list of land parcels which are proposed for monetisation through the Department of Investment and Public Asset Management (DIPAM) in the first instance. The time-bound monetisation of land assets, mobile towers and fibre networks will help BSNL earn some money in these tough times of falling revenues and rising losses.

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“The total area of land parcels, which are spread across the country and have in-built structures, buildings and factories, is 32.77 lakh square metres (sq m) and the spareable land parcel is 31.97 lakh sq m,” said an earlier BSNL corporate office letter to its circles seeking their comments, as reported by IANS.

“The fair value of spareable parcel as on April 1, 2015, is Rs 17,397 crore and the estimated present fair value of these lands is Rs 20,296 crore. The enhancement in valuation is based on cost inflation index for FY 2014-15 as 240 and FY 2018-19 as 280.

“The valuation of these land parcels is proposed to be done along with the structures lying in the parcel after the in-principle approval for sale or long term lease by the government. The cost of buildings has not been included in the Fair Value of land parcels”, it added.

BSNL telecom factories at Mumbai, Kolkata, West Bengal, Ghaziabad, Jabalpur and wireless stations, as well as other offices and staff colonies, have been included in the list of land parcels to be monetised.

Some of these parcels are mutated, while some are not, and the status of some of these parcels are freehold and some are on leasehold.