What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
MTNL’s board approved a proposal to sell its Plot-C property in Powai, Mumbai, to the Income Tax Department for Rs 891.53 crore (about Rs 8.91 billion). The transaction is not reported as complete: it remains subject to the department’s formal acceptance and is based on Presidential Approval and Alternative Mechanism (AM) approval.
What did MTNL’s board approve?
Mahanagar Telephone Nigam Limited (MTNL), a state-owned telecom company, said its board approved the proposed sale and transfer by circular resolution dated 1 October 2026. The proposed buyer is the Income Tax Department. MTNL describes the route as a government-to-government (G2G) transfer/direct sale.
The company’s disclosure sets out the transaction terms and conditions, but board approval alone does not establish that ownership has transferred or that MTNL has received the proceeds. MTNL’s 1 October 2026 disclosure is reproduced by BazaarWatch; Business Standard also reported the filing.
Which property is involved, and what is the stated sale value?
The proposed transfer concerns MTNL’s Plot-C, Technology Street, Powai, Mumbai 400 076. The disclosed land area is 20,895.60 square metres, and the stated sale value is Rs 891.53 crore, equivalent to approximately Rs 8.91 billion. These are figures in MTNL’s disclosure, not an independently established market valuation.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problems#1 Best Overall
The reviewed announcement and coverage do not provide a valuation report or benchmark against which to assess the stated price.
Has the Powai sale closed?
No completed transfer or closing date is established in the reviewed reporting. MTNL’s disclosure says the transaction is to proceed in accordance with the Income Tax Department’s formal acceptance and based on Presidential Approval and Alternative Mechanism (AM) approval. Until the required acceptance and approvals are in place and the transfer is completed, the announced value should be understood as the proposed sale consideration, not proceeds already received by MTNL.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How does the proposal fit MTNL’s asset-monetisation context?
MTNL’s 2023–24 annual report describes a wider asset-monetisation framework, including the National Land Monetization Corporation and the company’s then-current property monetisation activity. That earlier context does not show that this Powai transaction has closed. MTNL’s 38th Annual Report 2023–24 provides the historical background.
Separately, ETTelecom reported that BSNL manages MTNL’s operations under a 10-year service agreement effective 1 January 2025. That operational arrangement is distinct from the proposed property sale. ETTelecom’s report covers both points.
Quick Recap
Best Value
Rank #3
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
