Department of Telecom is keen to auction the prime land of Videsh Sanchar Nigam Limited
The land is owned by the Indian government , Tata Group and the shareholders of Videsh Sanchar Nigam Limited.
Department of Telecom wants the process of auction and selling to be transparent and controversy-free so that it can fetch the highest amount in the market.
According to Department of Telecom there has been no external valuation of the land and according to market sources at today’s high land price it could be fetch more than Rs 10,000 crore.
The finance ministry of India has been urging that the land be sold during the boom time for real estate to fetch maximum realization.