Telecom regulator Trai on Thursday indicated allocating of 700 Mhz spectrum, one of the most valuable bands, to telecom operators on prority basis.

"We will also take a look at actually giving out 700 Mhz ...in a manner of speaking it is a low hanging fruit. Since part of 700 mhz is available, we said we will examine its feasibility giving out 700 mhz spectrum first to people who dont have 800 or 900 mhz spectrum," Trai Chairman J S Sarma said at a FICCI event.

He said allocation of 700 Mhz spectrum will be done through auction and players not having spectrum in others bands will be given priority.

After such allocation, rest of the band will be opened for players who will have to pay price equivalent to the amount determined through auction, he added.

"These are things we are looking at. Nothing is final," he further said.

The frequency band of 700 Mhz is in high demand by players in mobile industry as any service deployed in this frequency band will need less number of base stations to deliver service.

700 Mhz band is capable of supporting all the latest wireless technologies.

In India, 2G services are being provided through 800, 900 and 1800 Mhz frequency band. Players have been provided 2100 Mhz for providing 3G services.