NLMC to hold investor meets in Visakhapatnam, Vijayawada and Hyderabad before e-auction of 459 RINL plots

Account subscription benefits alongside Premium Stories, Editorials, Opinions and more. Unlock these with Subscription

The National Land Monetisation Corporation (NLMC) will hold investor meets in Visakhapatnam, Vijayawada and Hyderabad ahead of the e-auction of 459 land parcels owned by Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP).

The investor meets will be held in Visakhapatnam on September 23, Vijayawada on September 24 and Hyderabad on September 25. The meetings are intended to provide prospective investors, developers and other eligible participants with details of the land portfolio, auction process and bidding requirements, besides an opportunity to interact with stakeholders.

The RINL portfolio comprises 459 plots spread across 93,572.21 square yards in HB Colony, Maddilapalem and Auto Nagar, Gajuwaka, in Visakhapatnam. Of these, 456 are residential plots in HB Colony covering 87,949.77 square yards. The remaining three plots in Auto Nagar cover 5,622.44 square yards. Individual plots range from 128.94 square yards to 2,728 square yards.

The e-auction will be conducted through the RailTel E-Nivida e-Procurement Platform in two sessions. The first session, covering 243 plots, will be held on October 12, and the second, covering 216 plots, on October 16.

The last date for registration and submission of the earnest money deposit (EMD) is October 8 for the first session and October 14 for the second. The EMD is ₹2 lakh per plot.

The NLMC, under the administrative control of the Department of Public Enterprises, Ministry of Finance, has appointed Quikr India Pvt. Ltd. as the transaction consultant for the auction. The corporation’s mandate is to monetise surplus land and other non-core assets of Central public sector enterprises and government agencies.

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.