Chennai: In maybe the first case of the Central Public Sector (PSU) unit in Chennai installed a number of nature in the main location for sale, the eight areas of BSNL’s land will be ready to be contested.
The process of monetizing 54.62 hectares of land, which is in accordance with conservative estimates collectively worth around Rs 1,250 Crore, is expected to be completed next year.
This property includes those in a housing and commercial hotspot such as PV Cherian Crescent Road Off Ethiraj Salai in Egmore, Bunga Bazaar, Triplicane, Royapettah and Vyasarpadi, together measuring 11.12 hectares, and 43.5 hectares in suburban areas, Kallikupam near the invitement and near the city chengalpet, a blank soil mixture and the building is not used.
At Royapettah and Vyasarpadi, the property consisted of staff vacated after the implementation of the VRS scheme for BSNL staff last year.
While the largest land package is in Ennore, which consists of 30 hectares, those in the core city together spread more than 192 reasons (1 ground = 2,400 square feet) can generate income around Rs 850 Crore, with a 30-land plot on Posh PV Cherian Crescent Road itself is worth almost RS 180 Crore.
Official sources with BSNL said the assessment of market value from the identified land parcel will be taken soon.
“We expect that the monetization process of land parcels will expire next year,” said BSNL official.
Property will be provided for sale through the Department of Investment and Management of Public Assets (Depam) functioning under the United States.
“In bazaar flowers, only vacant land is subject to monetization,” the official added.
The news has made a real estate sector.
K Chandrasekar Managing Director Property Management Service Rajam Private Limited, said that the Instance of Land Parsel from the Central PSU in Chennai which was dumped for sale is rare.
The Indian Secretary Builder Association S Ramaprabhu said that except for property in Bazaar’s interest, which is in the Broadway commercial nerve center, four other properties in the city can appear as housing developments.