India, Jan. 24 -- State-owned telecom firm Mahanagar Telephone Nigam Limited (MTNL) has begun auctioning its real estate assets in Mumbai and Delhi as part of efforts to raise funds and ease financial stress. Instead of selling its telephone exchanges and other large land parcels, MTNL has, for now, put up seven commercial properties and one residential unit for auction, an official said.

In Mumbai, at least two properties are on the block in the prime localities of Kemps Corner and Andheri West, while six others are being offered in Delhi. The debt-laden company expects to raise at least Rs.26.41 crore from this round of sales.

In south Mumbai's Kemps Corner, MTNL is auctioning seven shops and two parking spaces in the White Hall build...