Vizag Steel Plant Land Auction Receives Good Response
Price per square yard has crossed ₹1.80 lakh per square yard in some of the popular locations.
Visakhapatnam: The response to e-auction of RINL (Visakhapatnam Steel Plant) lands conducted on Monday has been October good, according to sources.
There are 256 prime plots in the city set for auction. 470 bidders vied for the plots.
Reports said 150 of the plots have been sold for ₹366 crore against the management’s expectation of ₹312.48 crore.
Notably, the price per square yard has crossed ₹1.80 lakh per square yard in some of the popular locations.
In the earlier phase on March 24, 135 plots had been sold, fetching an amount of ₹225 crore.
The next auction had earlier been scheduled for October 16, but has been deferred to October 30, RINL sources disclosed.
The auctions are being conducted under the supervision of National Land Monetisation Corporation (NLMC), a 100 per cent Government of India-owned enterprise under the administrative control of Department of Public Enterprises (DPE), Ministry of Finance.
There are a total 459 land parcels spanning 93,572.21 square yards for outright sale, with clear, encumbrance-free government titles.
Individual plots range in size from approximately 128.94 square yards to 2,728 square yards. Quikr India is the transaction consultant facilitating the auction process.
The predominant MIG / LIG plots, numbering 456, are in HB Colony, with complete civic and social infrastructure, with proximity to National Highway-16.
Other plots are of 2,728 square yards and 2,984 square yards in Block 2 of Autonagar in Gajuwaka.
Senior trade union leader and steel plant unit president of CITU Ayodhyaramu J demanded that the central steel ministry used proceeds from the auction exclusively for expansion of the steel plant and other related works.
