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Centre advances land monetisation through RINL’s 459-plot auction
The government wants to sell some unused land owned by public companies.
The National Land Monetization Corporation is helping Rashtriya Ispat Nigam Limited auction 459 plots.
Most of the plots are homesites in HB Colony in Visakhapatnam.
Three other plots are in the Auto Nagar area of Gajuwaka.
The land will be sold online in two separate auctions.
Before the auctions, officials will meet possible buyers in three cities.
Buyers must register, complete identity checks and pay a ₹2 lakh deposit for each plot.
The first auction is on 12 October and the second is on 16 October.
The plan is part of the government’s wider effort to raise money from surplus public assets.
The National Land Monetization Corporation will promote an e-auction of 459 Rashtriya Ispat Nigam Limited land plots.
Investor meetings are scheduled in Visakhapatnam, Vijayawada and Hyderabad from 23 to 25 September.
The plots cover 93,572.21 square yards, including 456 residential plots in Visakhapatnam’s HB Colony.
The auctions will be held on 12 October and 16 October through the RailTel E-Nivida platform.
Each plot requires a ₹2 lakh earnest money deposit, with registration deadlines of 8 and 14 October.
- Who
- The National Land Monetization Corporation is facilitating the auction of land owned by Rashtriya Ispat Nigam Limited, the corporate entity of Visakhapatnam Steel Plant.
- What
- An e-auction of 459 land plots, supported by investor meetings for prospective bidders.
- Where
- The plots are in HB Colony, Maddilapalem and Auto Nagar, Gajuwaka, in Visakhapatnam; meetings will be held in Visakhapatnam, Vijayawada and Hyderabad.
- When
- Investor meetings are scheduled for 23–25 September; auctions are scheduled for 12 and 16 October.
- Why
- To monetise surplus land and other non-core assets of central public sector enterprises and support the government’s asset-monetisation targets.
Key facts
- Total plots
- 459 plots
- Total land area
- 93,572.21 square yards
- Residential plots
- 456 plots in HB Colony covering 87,949.77 square yards
- Other plots
- Three plots in Auto Nagar, Gajuwaka, covering 5,622.44 square yards
- Auction dates
- 12 October for 243 plots and 16 October for 216 plots
- Registration deadlines
- 8 October for the first auction and 14 October for the second auction
- Earnest money deposit
- ₹2 lakh per plot
Sources
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