Tag: MTNL

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NABARD Acquires Mumbai Commercial Complex Leasehold for ₹351 Cr

Representative AI image NEW DELHI: NABARD, the premier rural development financial body, has acquired leasehold rights for a commercial complex at BKC, Mumbai for ₹351 crore, as reported by CRE Matrix. According to real estate analytics firm CRE Matrix, the National Bank for Agriculture and Rural Development (NABARD) secured these rights from MTNL for ₹350.72 crore. The registration deed was finalized in May 2026, incurring a stamp duty exceeding ₹21 crore, as confirmed by CRE Matrix after reviewing the documentation. The original lease of 80 years was issued by the Mumbai Metropolitan Region Development Authority (MMRDA) to MTNL, starting from…

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MTNL board okays ₹350.72 crore sale of BKC block to Nabard

Representative AI image NEW DELHI: The board of Mahanagar Telephone Nigam Ltd (MTNL), a state-run entity, has sanctioned the sale of its residential property block in Bandra Kurla Complex (BKC), Mumbai, to NABARD for ₹350.72 crore through a government-to-government direct sale, as stated in a BSE filing on Monday. The National Bank for Agriculture and Rural Development (NABARD) will cover the stamp duty, registration fees, and any associated charges, while MTNL will be responsible for any dues prior to the transfer and the NLMC (National Land Monetisation Corporation) fee outlined in a letter of undertaking dated June 29, 2025. MTNL’s…