Kolkata, Jan 26 (PTI) Calcutta Telephones, a part of the Bharat Sanchar Nigam Limited (BSNL), has finalised its plan to monetise the real estate assets of the company in the first phase as part of the revival scheme of the state-run telecom operator, an official said.

The subsidiary of BSNL, which provides telecom services in the city and adjoining areas, has decided to lease out a part of its headquarters, 'Telephone Bhawan'.

"We have decided to lease out assets in 18 different telephone exchange locations and sell off two land parcels as a part of the plan to monetise assets." Calcutta Telephones CGM Biswajit Paul said.

An approval for the first phase of monetising assets has been received, he said.

Real estate consulting firm Knight Frank's regional head Swapan Dutta said, "Calcutta Telephones had sent a long list of its premises in various locations for leasing."

Besides 'Telephone Bhavan', the company will lease out part of telephone exchanges where it has huge space in locations like Behala, Alipur, Burrabazaar, Jadavpur Ranikuthi and Salt Lake, the company official said.

The company will lease out the 45,000 sq ft ground floor of the 'Telephone Bhavan', situated in Dalhousie Square of the eastern metropolis, except a sales counter, he said.

The nine-storey building having a total 1.5 lakh sq ft space was built in 1954, he said.

About 8,000 sq ft will be let out in the annex- building, he said.

Dutta said Calcutta Telephones can expect a lease rent of about Rs 75 per sq ft at Salt Lake area while the same will be lower in other locations.

But, CalTel was seeking over Rs 284 per sq feet at Telephone Bhawan, sources said.

In October last year, the government had approved a Rs 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving VRS to employees so that the combined entity turns profitable in two years.

BSNL has submitted details of 14 properties worth Rs 20,160 crore to the Department of Investment and Public Asset Management (DIPAM) as part of the telecom corporations' ambitious asset monetisation plans.

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