1 hr ago
RINL to Auction 459 Plots Across Visakhapatnam Areas
The government plans to sell land owned by Rashtriya Ispat Nigam Limited in Visakhapatnam.
There are 459 plots available, covering a large area.
Most of the plots are residential plots in HB Colony.
Other plots are in Maddilapalem, Autonagar and Gajuwaka.
People, builders and businesses can try to buy them.
The auction will happen online on October 12 and 16.
Buyers must register, complete identity checks and pay a deposit for each plot.
Union Bank of India says it may provide loans to successful bidders who meet its eligibility rules.
The National Land Monetization Corporation will auction 459 RINL plots totaling 93,572 square yards in Visakhapatnam.
Online bidding is scheduled for October 12 and 16 through RailTel’s E-Nivida e-procurement platform.
The plots are located in HB Colony, Maddilapalem, Autonagar and Gajuwaka.
The auction includes 456 middle-income and lower-income residential plots in HB Colony.
Bidders must complete registration and KYC procedures and pay a Rs 2 lakh earnest money deposit for each plot.
- Who
- The National Land Monetization Corporation is conducting the auction for land belonging to Rashtriya Ispat Nigam Limited; individuals, developers and commercial users may bid.
- What
- An online auction will offer 459 plots totaling 93,572 square yards.
- Where
- The plots are in Visakhapatnam, including HB Colony, Maddilapalem, Autonagar and Gajuwaka.
- When
- Online bidding is scheduled for October 12 and 16.
- Why
- The Central government wants to generate value from surplus and non-core assets held by Central Public Sector Undertakings.
Key facts
- Auctioning agency
- National Land Monetization Corporation
- Landowner
- Rashtriya Ispat Nigam Limited
- Number of plots
- 459
- Total area
- 93,572 square yards
- Residential plots in HB Colony
- 456 MIG and LIG plots
- Bidding dates
- October 12 and 16
- Earnest money deposit
- Rs 2 lakh per plot
- Auction platform
- RailTel’s E-Nivida e-procurement platform
Sources
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