A September 23 Government Resolution sanctioned ₹3,446 crore from the Maharashtra Shelter Fund for MahaHousing to acquire five MTNL properties totalling 29.74 acres in Borivali West, Shimpoli and Eksar. The amount includes ₹3,250.26 crore for purchase and ₹196 crore for registration, stamp duty, protective walls, security and other expenses.

The government gave in-principle approval for up to ₹7,500 crore to acquire six BSNL and MTNL properties measuring 71.06 acres, with an estimated purchase value of ₹7,267.52 crore. The BSNL plot on L T Road, Borivali West, measures 41.32 acres and is valued at ₹4,017.26 crore; its valuation will be considered after BMC notifies the reserved plot.

MHADA will release the sanctioned funds to MahaHousing. MahaHousing may raise financing through HUDCO; up to ₹750 crore annually from the Maharashtra Housing Fund may cover HUDCO instalments. Shelter Fund advances are repayable at HUDCO’s interest rate plus 0.50%, with the fund holding first charge on project income until repayment. Separate accounts are required.

MTNL’s board approved the sale of GN Block, BKC Quarters, to the National Bank for Agriculture and Rural Development (NABARD) through a government-to-government direct sale for ₹350.72 crore. The circular resolution was dated December 15, 2025. The property at MMRDA Plot No. R-4, Bandra (East), Mumbai, comprises 28 residential units on a 2,680-square-metre plot, with 4,019.02 square metres of built-up area. NABARD will pay stamp duty, registration charges and incidental expenses; MTNL will clear property dues, including the NLMC fee, before transfer. The disclosure was made under Regulation 30 of the SEBI LODR Regulations, 2015. MTNL reported overdue bank dues of ₹8,957.44 crore as of November 2025: ₹7,794.34 crore principal and ₹1,163.10 crore interest. The loans were classified as NPAs between August 2024 and February 2025.

MTNL’s board approved the sale of GN Block, BKC Quarters, to the National Bank for Agriculture and Rural Development (NABARD) through a government-to-government transfer or direct sale. The property comprises 28 residential quarters on a 2,680-square-metre plot, with 4,019.02 square metres of built-up area, at MMRDA Plot No. R-4, BKC, Bandra (East), Mumbai.

The board’s circular resolution is dated 15 December 2025 and was disclosed under Regulation 30 of the SEBI (LODR) Regulations, 2015. The sale follows Presidential Approval granted on 17 July 2020 under Article 69(f) of MTNL’s Articles of Association and Alternative Mechanism approval on 11 November 2025. NABARD will pay stamp duty, registration fees and incidental transfer charges. MTNL will clear property dues before transfer and pay the NLMC fee under a Letter of Understanding dated 29 June 2025.

MTNL owes banks ₹8,585 crore as of 30 June and has overall debt exceeding ₹33,000 crore. Monetizing its land and property could raise about ₹5,000 crore. Lenders’ proposal to buy assets and offset them against dues has stalled; rules do not permit direct loan adjustment through asset takeovers. Many properties, particularly in Mumbai, were allotted for telecom or other specific uses and face ownership issues and Maharashtra land-use designations.

A committee of secretaries approved non-auction transfers by MTNL and BSNL to Central and state governments, public sector banks and statutory bodies. Buyers must pay 2% upfront security; Central agencies get 90 days’ first refusal, after which assets go to auction. Private buyers can purchase only through auctions. Valuations are handled by MTNL for properties up to ₹10 crore, CPWD for those above ₹10 crore and up to ₹100 crore, and the National Land Monetization Corporation above ₹100 crore.

Banks reportedly agreed to forgo 10% of loans, against a proposed 40%; decisions are pending. MTNL first defaulted on 30 June 2024, owing ₹7,780.21 crore; Union Bank classified its loans as bad in August 2024, followed by other lenders. BSNL took over MTNL’s operations from 1 January 2025, but not its assets or debt. MTNL reported a FY25 loss of ₹3,323.4 crore.