Indian Postal Department Is Planning For SPV For real Estate

The face of Indian postal department is changing, under pressure from modern communication systems. Gone are the days when post offices were used for screening and distributing letters. Today, it is entering into every possible business segment, be it money exchange or logistics. With a network of 1,55,516 post offices in every nook and corner of the country, India Post is all set to conquer new frontiers.

Indian Post used to be one of the prominent pillars of the country’s communication infrastructure. This, however, is no longer the case with the emergence of telecom and Internet as the preferred mode of communication. Courier services have also made a dent into the revenues of the postal department. With an aim to revive its past glory, the Department of Post (DoP) has planned a series of initiatives including rapid induction of information technology, introduction of logistics post air, tie-up with commercial banks and launch of new mailing and money-order schemes.

The department also plans to strategically leverage its vast network of over 1.5 lakh post offices across the country, the largest in the world. From railway reservation to spreading education on the government’s social sector schemes, the neighborhood post office plans to become a single gateway for almost all official purposes.

Further, with an aim to leverage upon its vast real estate assets, the Indian post is also planning to form a special purpose vehicle (SPV). The SPV would be responsible for planning and execution of commercial utilisation of vacant plots of land and buildings. The special purpose vehicle would be a 100% subsidiary of the DoP.

“Commercial exploitation of the real estate properties would provide Indian Post the much needed revenue for taking the modernisation plans,” communications minister A Raja said.

4 Comments

  1. Shrusti
    Posted May 16, 2008 at 12:01 am | Permalink

    It’s so sad to see this. At least in US like countries somehow the post offices are still picking up with the cost advantages over the other private companies. Humm .. Good post though..

  2. Posted May 19, 2008 at 1:37 am | Permalink

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  3. mast ram sharma
    Posted July 15, 2008 at 5:52 am | Permalink

    Subject : An appeal to Head at Panchrukhi Post Office in lieu of unpaid debts

    Dear Sir,

    Myself M.R .Sharma a retired Tehsildar from Himachal Pradesh Revenue Department is Senior Citizen at the age 74 of Himachal. I am having my own building of four Rooms with all facilities available with Water, Electricity and bathroom etc etc. The Area of this building is 0-00-64 Hec. This accommodation is being used by Local Post office Panchrukhi 176103 as I have given them this on Monthly Rent or Rs 1100/- ( Rupee One Thousand One Hundred only) with proper deed signed by Post office and myself on 1st Aug 2003 to 31st July 2008 with this assurance that the rent will be increased within one year of starting of this lease deed.

    I had given this lease signed with this impression that within one year Post office will revise the Rent this accommodation. But till date I have never got any increase in this rent from their side. I have written to Superintendent of Dharamsala for this matter but despite of so many exchanges of letters there is not any development in this case. As we have given this building for working purpose to Post office and you can understand that such a good building means monthly rent of Rs. 5000/- will be genuine. The state bank of India in front of this building having monthly rent Rs 8000.00. This building is situated in the middle of the market of Panchrukhi and safe from every side. and as I am a retired government employee and cannot survive in pension and this small amount of rent. You will be surprised to know that the maintenance of this Post office is being done by myself from time to time and the customer /counters / other counter which are there are being used by post office were arranged by me. My whole the rent is going in this maintenance of post office only.

    Now I have received a letter from the Post superintendent Dharmsala that inccreasement of 10% after five years is possible it mean after five year I get rent rs 1100.00 +110.00=1210.00 per month. This is not justice with me.

    My agreement has to come end at the month of 31 July 2008

    You are requested to look into this matter as I am too old to run
    here and there for this purpose.

    It will be better for me if post office can vacate this place and I can put this accommodation on rent to some am family who can easily give me rent of Rs. 5000 to 6000 per month. or increase the genuine You You are requested to take up this matter with post dept so that there should be proper justice in my case.

    I pray for an urgent action and seek your kind assistance, for which I shall always be grateful.

    I thank you in advance for your kind action in this regard and I shall be very thankful to you for the act of kindness on this senior citizen,

    With respect and blessings

    Yours Truly

    MAST RAM SHARMA NAIB TEHSILDAR
    Village Ladoh post office Panchrukhi Teh Palampur Distt
    Kanrgra H.P 176103 PHONE NO:01894-254033

  4. satish kumar sharma
    Posted November 12, 2008 at 8:22 am | Permalink

    who will listen regarding this problem

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