Mahanagar Telephone Nigam Limited (MTNL) has entered into a Memorandum of Understanding (MoU) with the Government of Bihar to transfer leasehold rights of seven residential properties in New Delhi. The agreement, valued at ₹68.43 crore, was signed on 24 March 2026.
The properties, located at the Asian Games Village Complex (Khelgaon), include four bungalows and three flats. The Government of Bihar has already deposited the full amount with MTNL, with the transaction subject to the receipt of a Non Objection Certificate (NOC) and execution of a Lease Transfer Deed with the Delhi Development Authority (DDA), along with other necessary approvals.
The MoU will remain valid for six months from the date of signing or until the completion of the leasehold rights transfer, whichever is earlier. The validity can be extended through mutual written consent from both parties.
The properties involved in the transaction are valued individually as follows: Flat No. 492 at ₹5.55 crore, Flat No. 494 at ₹5.37 crore, Flat No. 503 at ₹5.49 crore, Bungalow No. 850 at ₹12.84 crore, Bungalow No. 851 at ₹12.84 crore, Bungalow No. 852 at ₹12.84 crore, and Bungalow No. 853 at ₹13.50 crore.
This transaction is classified as a government-to-government transfer, and therefore does not fall under related party transactions. No additional rights or conditions, such as the appointment of directors or changes in capital structure, are part of the agreement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Yash Agarwal and reviewed by Markets Desk before publication.