Andhra Pradesh: NLMC To Auction 459 RINL Plots To ‘Unlock Value’
The approximate value of properties to be auctioned is pegged at ₹900 crore: Reports
VISAKHAPATNAM: National Land Monetisation Corporation (NLMC) has announced its plan to e‑auction 459 land plots belonging to the Visakhapatnam Steel Plant on behalf of the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of VSP.
The auction is part of the central government’s asset monetisation drive to unlock the economic value of surplus and underutilised land parcels in prime urban and industrial locations.
According to details available so far, 456 of the plots to be auctioned are located in HB Colony at Maddilapalem. Plots in Blocks 2 and 3 of Auto Nagar in Gajuwaka are also part of the proposed auction.
The approximate value of the properties to be auctioned has been pegged at ₹900 crore. However, the reserve prices, total land extent, auction schedule, and eligibility conditions are yet to be disclosed.
In a post on X dated August 29, NLMC called the auction “459 plots. One significant opportunity in Visakhapatnam.” The post said further details would be announced soon.
The initiative is part of National Land Monetisation Corporation’s mandate to monetise land and building assets held by Central Public Sector Enterprises (CPSEs) and government agencies.
Incorporated in June 2022 under the Department of Public Enterprises, Ministry of Finance, NLMC has been tasked with facilitating the sale or lease of non‑core assets and assisting strategic disinvestment in CPSEs or their closure.
The proposed auction of RINL’s land parcels indicates centre’s efforts to pursue monetisation measures involving VSP. RINL, which operates the plant, owns sizable land holdings across the city, making the auction a significant opportunity for prospective bidders and stakeholders.
