Bharat Sanchar Nigam Limited (BSNL), and MTNL (Mahanagar Telephone Nigam Limited) owned land in Mumbai will be given for affordable housing development. This land is in the Borivali region of the city and under the Pradhan Mantri Awas Yojna, it will be used for developing affordable housing. The decision was taken by the Maharashtra Chief Minister (CM), Devendra Fadnavis on Friday at the meeting of the Maharashtra Housing Development Authority at the Sahyadri Guest House.
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A total of 28.84 acres of reserved land owned by BSNL at Gorai and by MTNL at Shimpoli in Borivali will be acquired at a rate of Rs 729 crore, confirmed a release by the government. In this land parcel, more than 1000 housing units will be developed. This will bring affordable housing in the city of Mumbai.
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BSNL and MTNL are monetising non-performing land assets and parcels as part of the relief package announced by the government in the recent years. This money will go towards fueling capex (capital expenditure) by the state-run telecom operator for rolling out indgenous 4G across the country. BSNL has made 4G live in around 1 lakh sites in India.
