High-Level Committee Approves New Framework for Telecom PSUs

A high-level committee has given the green light to a new framework that facilitates the transfer of surplus land and buildings owned by telecom PSUs—Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telephone Nigam Ltd (MTNL), and ITI Ltd—to central government organizations without the need for an auction.

90-Day Deadline Set for Intent Submissions

Central government organizations interested in acquiring these assets must submit their intent within 90 days from the listing on the government's asset monetisation portal. A 2% earnest money deposit of the indicative value is required to formalize the claim.

Post-Deadline Procedures

If no central entity expresses interest within the stipulated period, the PSUs are free to sell the properties to non-government buyers. The transfer will be at market value, determined by the highest among valuation agencies' rates, circle rates, or ready reckoner rates.

Valuation Mechanism

For properties valued up to Rs 10 crore, the PSUs themselves will conduct the valuation. The Central Public Works Department (CPWD) will handle valuations between Rs 10 crore and Rs 100 crore, while the National Land Monetisation Corporation will oversee assets exceeding Rs 100 crore.

Preference to Central Government Entities

In cases of multiple interests, central government organizations will be given preference, as outlined in a note dated July 4 by Telecom Secretary Neeraj Mittal.