What property did MTNL sell to Nabard?

MTNL sold the GN Block of BKC Quarters, comprising 28 residential units in Mumbai's Bandra Kurla Complex.

How much did Nabard pay MTNL for the Mumbai property?

Nabard acquired the property from MTNL for ₹350.72 crore.

Who is responsible for the costs of the MTNL-Nabard property transfer?

Nabard will bear the stamp duty and registration fees, while MTNL will clear property dues.

Home / Business and Economy / MTNL Sells Mumbai Land for ₹350 Crore to Nabard

MTNL Sells Mumbai Land for ₹350 Crore to Nabard

15 Dec, 2025

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Summary

MTNL board approved selling Mumbai property to Nabard.
The sale is for ₹350.72 crore for residential units in BKC.
Nabard will cover stamp duty and registration charges.

MTNL Sells Mumbai Land for ₹350 Crore to Nabard

Mahanagar Telephone Nigam Limited (MTNL) has greenlit the sale of its valuable residential property situated in Mumbai's Bandra Kurla Complex (BKC). The state-run telecommunications firm will transfer the property to the National Bank for Agriculture and Rural Development (Nabard) for a sum of ₹350.72 crore. This significant transaction was approved by MTNL's board of directors via a circular resolution.

The property comprises the GN Block of BKC Quarters, featuring 28 residential units spread across 4,019.02 square metres on a 2,680 sq metre plot. The sale, conducted as a direct transfer to Nabard, is consistent with presidential approval obtained in July 2020 for asset monetization initiatives.