Deals30 Mar 2026, 05:23 pm
MTNL Transfers Leasehold Rights of Residential Property to NABARD for ₹350.72 Crore
AI Summary
Mahanagar Telephone Nigam Ltd (MTNL) has executed a Deed of Assignment of Leasehold Property with NABARD, transferring the leasehold right for the unexpired balance of the lease term of MTNL’s Residential Property, viz., GN Block, BKC Quarters (28 quarters), Plot Area 2680 sqm and Built-up Area 4021.43 sqm, at MMRDA Plot No. R-4, BKC, Bandra (E), Mumbai–400 098. The transaction consideration is ₹350.72 crore, which has been paid in full by NABARD.
Key Highlights
- MTNL has transferred leasehold rights to NABARD for ₹350.72 crore.
- The property in question is a residential property in Mumbai with a plot area of 2680 sqm and a built-up area of 4021.43 sqm.
- The transaction is a government-to-government transfer.
- NABARD has paid the full consideration of ₹350.72 crore.
- The disclosure is in compliance with SEBI regulations and circulars.