The Morocco international has been linked with a move to England for some time, with Arsenal also reported to hold an interest in the midfielder.
It was, however, looking increasingly likely that Belhanda would be on his way to Turkey once Fenerbahce entered the chase during the current transfer window.
No deal has been put in place, though, and Montpellier are still looking for a buyer.
They are prepared to move Belhanda on in order to bring in much-needed funds and club chairman Louis Nicollin admits he would be prepared to talk with Spurs were they to make a move.
"Tottenham's interest? There has been nothing official as yet, but I would like there to be," said Nicollin in L'Equipe.
"If a good offer arrives, he will leave. We can live without him and he can live without us."
On discussions with Fenerbahce, he added: "Nothing has evolved. They wanted to pay us in three instalments. They can keep their money."