Nodal body likely for developing postal property

The department of post (DoP) may soon constitute a nodal authority for the commercial development of its realty assets sitting idle across the country. As per the department’s estimates, about 1,871 plots (covering an area of over 382 million square feet) are lying unutilised. The DoP had earlier planned to form a special purpose vehicle (SPV) for it. However, the parliamentary standing committee has disagreed with this view — it has instead suggested a nodal authority to oversee the process as the proposed SPV would take a longer time.

Nodal body likely for developing postal property - ET Cetera-News By Industry-News-The Economic Times