3 days ago
NLMC Plans Auction of 459 Visakhapatnam Steel Plant Plots
The government plans to sell 459 pieces of land in Visakhapatnam through an online auction.
The land belongs to Rashtriya Ispat Nigam Limited, which operates the Visakhapatnam Steel Plant.
Most of the plots are in HB Colony at Maddilapalem.
Some are in Auto Nagar, Gajuwaka.
Together, the properties may be worth about ₹900 crore.
The National Land Monetisation Corporation will organize the auction.
Officials have not yet announced the starting prices or auction date.
The plan is intended to raise value from land that is considered surplus or underused.
The National Land Monetisation Corporation plans to e-auction 459 plots owned by Rashtriya Ispat Nigam Limited.
A total of 456 plots are located in HB Colony at Maddilapalem, while others are in Auto Nagar, Gajuwaka.
The properties are estimated to be worth approximately ₹900 crore.
Reserve prices, land area, auction dates and eligibility requirements have not yet been announced.
The auction is part of the central government’s drive to monetise surplus and underused land assets.
- Who
- The National Land Monetisation Corporation is conducting the auction on behalf of Rashtriya Ispat Nigam Limited.
- What
- An online auction of 459 Visakhapatnam Steel Plant land plots is planned.
- Where
- The plots are in Visakhapatnam, including HB Colony at Maddilapalem and Blocks 2 and 3 of Auto Nagar in Gajuwaka.
- When
- The auction date has not yet been announced; the National Land Monetisation Corporation posted about the plan on August 29.
- Why
- The auction is part of the central government’s effort to monetise surplus and underused land assets.
Key facts
- Auctioning agency
- National Land Monetisation Corporation
- Asset owner
- Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant
- Number of plots
- 459
- Main location
- 456 plots are in HB Colony at Maddilapalem
- Other location
- Blocks 2 and 3 of Auto Nagar in Gajuwaka
- Estimated value
- Approximately ₹900 crore
- Pending details
- Reserve prices, total land extent, auction schedule and eligibility conditions have not been disclosed
Quotes
National Land Monetisation Corporation
The government corporation announcing the proposed RINL land auction
“459 plots. One significant opportunity in Visakhapatnam.”
deccanchronicle.com
Sources
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