MTNL Puts Kemps Corner Office Property on Sale for ₹25.71 Crore

The state-owned telecom operator MTNL has issued a request for proposal (RFP) to sell its ready-built office property at Kemps Corner, Mumbai. The property is located at GALA 11-17 on the first floor of the White Hall building on August Kranti Marg.

The freehold property spans a built-up area of 3,124 square feet and includes two parking spaces. Currently, the office premises are vacant and in the possession of MTNL. The reserve price for the property has been set at ₹25.71 crore. Bidders are required to have a minimum net worth of ₹6.4 crore, which is 25% of the reserve price. The deadline for submitting bids is January 26.

MTNL has appointed Delhi Integrated Multi Modal Transit System Limited (DIMTS) to manage the transaction process and identify prospective buyers. DIMTS will handle all aspects of the sale, ensuring a smooth and transparent process for interested parties.

In addition to the Kemps Corner office property, MTNL has also put up a residential flat for sale at Raheja Classique 1, Oshiwara, New Link Road, Andheri (West). The flat, numbered 106, is situated on the first floor and has a built-up area of 236 square feet. The reserve price for the residential property has been fixed at ₹70.75 lakh. Knight Frank (India) Pvt Ltd has been appointed by MTNL to oversee the sale of this property. The deadline for bid submission for the residential flat is February 3.

MTNL’s efforts to monetize its real estate assets through auctions are part of a broader strategy to improve its financial health and focus on core telecom operations. The proceeds from these sales will be used to strengthen the company’s balance sheet and invest in modernizing its infrastructure and services.

The initiative to sell these properties comes at a time when MTNL is facing increasing competition in the telecom sector. By divesting non-core assets, the company aims to reduce its debt burden and allocate resources more efficiently. This strategic move is expected to bolster MTNL’s financial position and enable it to better compete in the dynamic telecom market.

For those interested in these property deals, MTNL has ensured a transparent and competitive bidding process. Prospective buyers are encouraged to review the RFP documents and submit their bids within the specified deadlines. For more details on exclusive and budget-friendly property deals in Mumbai and surrounding regions, visit budgetproperties.in.