Center to boost land monetization with RINL auction of 459 plots, three-city roadshow

New Delhi: To achieve its target of land monetization, the National Land Monetization Corporation (NLMC) will hold a series of investor meetings to attract potential bidders for the e-auction of 459 plots owned by Rashtriya Ispat Nigam Ltd (RINL), the entity of Visakhapatnam Steel Plant.

The NLMC said in a statement on Thursday that meetings will be held in Visakhapatnam (September 23), Vijayawada (September 24) and Hyderabad (September 25) next week.

The initiative comes at a time when the Center is looking to speed up the monetization of surplus land and other non-core assets of central public sector enterprises (CPSEs). The government has set a target ₹80,000 crore in disinvestment and asset monetization proceeds for FY27, making land monetization an important part of its broader strategy to unlock value from government-owned assets.

Mint announced on May 20 that the Center has introduced a new framework to streamline the transfer and monetization of public land under the National Monetization Channel (NMP) 2.0, which addresses excess land ownership and procedural delays. The framework aims to unblock public land in the second phase ₹16.7 trillion NMP 2.0. The center has generated so far ₹6,366.93 trillion in land monetization revenue.

Auction details and key dates

The NLMC said in a statement that the RINL auction will cover 459 plots spread over 93,572.21 square yards at HB Colony, Maddilapalem, and Auto Nagar, Gajuwaka, in Visakhapatnam. Individual lots range from approximately 128.94 square yards to 2,728 square yards. The bulk of the portfolio consists of 456 residential plots in HB Colony spread over 87,949.77 sq. yards. The remaining three plots at Auto Nagar, Gajuwaka cover 5,622.44 square yards.

Investor meetings are focused on providing potential investors, developers and other eligible participants information about the land portfolio, reserve prices, eligibility criteria, registration requirements and bidding process. They will also provide potential bidders with an opportunity to obtain clarification from the interested parties involved in the auction.

The properties are located in established residential, commercial and industrial areas of Visakhapatnam and will be offered through competitive e-auction. The NLMC said the land assets have clear and unencumbered state titles, according to the terms of the auction. The e-auction will be conducted in two sessions through RailTel’s e-procurement platform E-Nivida.

The first auction, which will cover 243 plots, will be held on October 12 and the last date for registration and submission of earnest deposit (EMD) is October 8. The second auction involving 216 plots will be held on October 16, registration and submission of EMDs will close on October 14.

EMD has been corrected to ₹2 million for the land. Prospective bidders will have to complete the registration and KYC formalities and make the EMD payment within the prescribed time limits.

The auction also illustrates the role NLMC envisions in the government’s asset monetization strategy. The company, a 100% state-owned company under the administrative control of the Ministry of Public Enterprises, Ministry of Finance, was established to facilitate the monetization of surplus land and other non-core assets held by CPSEs and other government agencies.