BSNL Plans to Auction 11.1-Acre Prime Land on Jessore Road, Madhyamgram

Bharat Sanchar Nigam Limited (BSNL) is preparing to auction a prime 11.1-acre land parcel located on Jessore Road in Madhyamgram, Kolkata, according to senior officials. The auction is expected to take place within the next two to three months.

The centrally owned public sector undertaking has valued the land at around 179 crore, though industry experts believe the final auction price could cross 250 crore due to the strategic location and scale of the property.

Strategic Location Near Airport Boosts Value

The land parcel is situated adjacent to Star Mall on Jessore Road, one of the most prominent arterial roads in north Kolkata, and lies close to Netaji Subhas Chandra Bose International Airport. Its rectangular shape and large size make it highly suitable for large-scale residential

Past BSNL Land Sale Sets High Benchmark

Earlier, BSNL sold an 87-cottah land parcel in Kankurgachi for 131 crore, with prices touching 1.5 crore per cottah. That transaction became one of the highest land deals in Kolkata and marked BSNL’s biggest asset monetisation success nationwide.

Global EoI to Be Invited for Auction

Given that the land value exceeds 100 crore, the National Land Monetisation Corporation (NLMC) will initiate a global Expression of Interest (EoI) process. The auction is expected to be conducted through MSTC, the government’s e-auction platform.

Previously, the site housed BSNL staff quarters and the Madhyamgram Telephone Exchange, which have since been vacated as part of the company’s asset monetisation drive.

Major Real Estate Players Expected to Participate

Real estate experts believe the auction will attract top national developers as well as prominent local builders. According to estimates, the land can accommodate 800 to 1,000 residential units.

With an average unit price of around 80 lakh, the proposed development could translate into a 640–800 crore real estate project, making it an ideal opportunity for large branded developers looking to expand in north Kolkata.

Boost to North Kolkata Real Estate Market

The upcoming auction is expected to significantly boost real estate activity in Madhyamgram and surrounding areas, strengthening the region’s position as a high-growth corridor due to airport proximity, strong road connectivity, and rising demand for premium residential projects.

By LNN (Liyaans News Network)