In a bid to bolster its financial standing, Bharat Sanchar Nigam Limited (BSNL) has announced the monetisation of its land parcels in Mangaluru.
Situated adjacent to Kadri Park, the two-acre land parcel at Store Yard located near Kadri Hills, Park Road, is set for e-auction with a reserve price of ₹39 crore and an Earnest Money Deposit (EMD) of ₹1.95 crore.
An earnest money deposit (EMD) is a sum of money that a buyer pays to a seller as a sign of their commitment to a transaction. The deadline for bid submissions is July 1, 2024, said Ujwal Gulhane, the Chief General Manager (CGM) of Karnataka circle of BSNL, in a press release.
"BSNL, in parallel, continues to expand its infrastructure in the region with plans to commission 672 new 4G towers across Dakshina Kannada and Udupi districts."
"The initiative is part of the 4G Saturation Project under the Government of India's supervision, which aims to enhance network coverage, particularly in rural areas where connectivity remains sparse," he added.
Currently, in Dakshina Kannada, towers have been erected at 40 out of 57 identified locations, while in Udupi, 30 out of 36 sites have been equipped with towers. These developments are part of BSNL's broader strategy to roll out a standalone Make-in-India 4G network, paving the way for future 5G readiness