MTNL shares update on sale of residential property to NABARD
Mahanagar Telecom Nigam Ltd (MTNL), a Government of India undertaking firm has announced that it has confirmed the sale of GN Block
New Delhi: Mahanagar Telecom Nigam Ltd (MTNL), a Government of India undertaking firm has announced that it has confirmed the sale of GN Block, MMRDA Plot number R-4, Bandra to National Bank for Agriculture and Rural Development (NABARD) through Government to Government Transfer or Direct Sale.
According to the filing, this is to inform you that the Board of Directors has approved the proposal for the Sale of MTNL’s Residential Property, viz., GN Block, BKC Quarters (28 quarters), Plot Area 2680 sqm and Built-up Area 4019.02 sqm, at MMRDA Plot No. R-4, BKC, Bandra (E), Mumbai–400098, to NABARD through Government-to-Government (G2G) Transfer/Direct Sale at Rs. 350.72 crore in accordance with the Presidential Approval dated 17.07.2020 under Article 69(f) of the Articles of Association of MTNL for Monetization of Assets and the Approval dated 11.11.2025 of the Alternative Mechanism (AM) for the Sale of the Property to NABARD with the following:
(i) Stamp duty, Registration Fee, Incidental Charges to be borne by NABARD
(ii) All Dues Prior to Transfer and NLMC fee as per LoU dated 29.06.2025 to be borne by MTNL.