RINL to Auction 459 Land Parcels in Visakhapatnam via NLMC E‑Bidding
NEWZA Editorial Team••Source: MoneyControl
NEWZAFinancial Intelligence Feed
⚡ Key Financial Takeaways
NLMC to auction 459 RINL land parcels covering 93,572.21 sq yards in Visakhapatnam.
E‑bidding dates are Oct 12 and Oct 16 on RailTel’s E‑Nivida platform; Rs 2 lakh earnest money needed.
Portfolio includes 456 residential plots in HB Colony and 3 parcels in Auto Nagar, all encumbrance‑free.
NLMC Launches 459‑Plot Auction for RINL Land The National Land Monetisation Corporation (NLMC) has announced an auction of 459 parcels owned by Rashtriya Ispat Nigam Ltd (RINL) in Visakhapatnam. The portfolio covers 93,572.21 square yards, including 456 residential plots in HB Colony and three plots in Auto Nagar, Gajuwaka. All properties are encumbrance‑free and come with clear government titles.
Auction Details and Bidding Process The e‑bidding will take place on October 12 and 16 using RailTel’s E‑Nivida e‑procurement platform, with Quikr India Pvt Ltd appointed as transaction consultant. Prospective bidders must register online, complete KYC verification, and submit an earnest money deposit of Rs 2 lakh for each plot. The auction offers a structured, transparent framework for monetising surplus land held by central public sector enterprises.
Why This Auction Matters RINL, a Navratna CPSE under the Ministry of Steel, is divesting non‑core assets to improve financial health. The sale aligns with NLMC’s mandate to monetise surplus land and supports the Finance Ministry’s broader asset‑management strategy. Investors eye the opportunity to acquire residential or commercial plots in prime Visakhapatnam locations, such as HB Colony near National Highway 16 and a 2,728‑sq‑yard parcel in Auto Nagar suitable for logistics use.
