MTNL sells BKC leasehold rights to Nabard for ₹350.72 crore

Mumbai: The cash-strapped Mahanagar Telephone Nigam Limited (MTNL) has sold the leasehold rights of its prime property in the Bandra Kurla Complex (BKC) to the National Bank for Agriculture and Rural Development (Nabard) for ₹350.72 crore, according to transaction documents accessed by HT. The deal, part of the government-owned telecom company’s asset monetisation plan, was formalised earlier this month.

The 2,680 sq m plot, located in BKC’s GN Block, houses a building with a built-up area of 4,021.43 sq m.