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BSNL is set to auction an 11.1 acre land parcel on Jessore Road, Madhyamgram, Kolkata, within the next few months. Valued internally at INR 179 crore, the land is expected to attract bids exceeding INR 250 crore due to its strategic location near Star Mall and close to Kolkata airport. Previously, BSNL sold a smaller Kankurgachi parcel for INR 131 crore. The Madhyamgram land, currently housing staff quarters and a telephone exchange, could support large-scale residential projects, drawing interest from national and local developers, under the supervision of NLMC.
BSNL plans to auction an 11.1 acre freehold land parcel located on Jessore Road in Madhyamgram, Kolkata, within the next two to three months. The company has internally valued the land at INR 179 crore, but experts anticipate that competitive bidding could push the final price above INR 250 crore. Advertisement
The sale will be conducted under the National Land Monetisation Corporation (NLMC), which manages the monetisation of non-core assets of central public sector undertakings. The process will involve a global Expression of Interest (EoI), likely to be managed by MSTC.
This move follows BSNL's successful sale of an 87 cottah land parcel in Kankurgachi for INR 131 crore, which achieved a per cottah price of INR 1.5 crore, marking one of the highest land deal values for BSNL nationwide. A senior BSNL official said the Madhyamgram auction is expected to surpass this record due to the larger parcel size and its strategic location near Star Mall and Kolkata airport. The rectangular plot is considered ideal for a major real estate project.
Historically, the Madhyamgram land accommodated BSNL staff quarters and the Madhyamgram Telephone Exchange. Industry experts indicate that the site could accommodate construction of 800'1,000 residential units. With an average unit cost of INR 80 lakh, the total project could be valued between INR 640 crore and INR 800 crore, making it attractive for top national and local developers.
Given its size and location, the auction is likely to attract attention from both major national players and regional real estate companies. The successful sale of this land will reinforce NLMC's role in transforming non-core PSU assets into productive real estate, while highlighting the growing investor interest in prime Kolkata suburbs.
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