NLMC Briefs Bidders in Visakhapatnam Ahead of RINL Land E-Auction
NLMC held an investor meet in Visakhapatnam to brief bidders on the e-auction of 459 RINL land parcels, with more meets planned in Vijayawada and Hyderabad.
The National Land Monetization Corporation (NLMC) convened an investor meet in Visakhapatnam to brief prospective bidders and stakeholders on the forthcoming e-auction of 459 land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant.
The session, attended by senior NLMC and RINL officials along with prospective investors, developers and other stakeholders, set out details of the land portfolio, the location and characteristics of the plots, the auction process, eligibility norms, registration procedure, the Earnest Money Deposit and other applicable terms.
The outreach is intended to widen the dissemination of information so that bidders can assess the portfolio and understand the auction mechanism before participating. Similar investor meets are scheduled in Vijayawada on September 24 and Hyderabad on September 25.
The portfolio
The e-auction covers 459 parcels aggregating 93,572.21 square yards at HB Colony, Maddilapalem and Auto Nagar, Gajuwaka, in Visakhapatnam. Individual plot sizes range from about 128.94 square yards to 2,728 square yards.
Of the total, 456 residential plots at HB Colony account for roughly 87,949.77 square yards, while three plots at Auto Nagar, Gajuwaka, make up about 5,622.44 square yards. The Auto Nagar holdings include a contiguous parcel of 2,728 square yards in Block 2 and two residential plots in Block 3 aggregating approximately 2,894.44 square yards. The plots sit in established parts of the city with access to existing road and civic infrastructure, and the Auto Nagar area has a base of commercial and industrial activity with links to the wider city and surrounding regions.
Quikr India Pvt. Ltd. has been appointed transaction consultant for the process.
Auction schedule
The e-auction will be held on the RailTel E-Nivida e-Procurement Platform in two sessions. Day 1, on October 12, will cover 243 plots from 11:00 AM to 7:00 PM, with registration and EMD submission closing on October 8 at 5:00 PM. Day 2, on October 16, will cover 216 plots over the same hours, with the corresponding deadline on October 14 at 5:00 PM. The EMD is ₹2 lakh per auction.
Auction documents, plot information, registration details and terms are available on the official portal at https://eauction.enivida.com/.
Official comments
Rohan Chand Thakur, CEO of NLMC, described the Visakhapatnam meet as an important part of the outreach ahead of the auction, saying the aim is to give bidders comprehensive information on the parcels, the process and the applicable conditions. He noted that the portfolio spans established locations and offers a range of options for bidders to evaluate, adding that NLMC is working closely with RINL to facilitate monetisation through a transparent and competitive e-auction.
Ravi Chandra Babu R, General Manager (P&A) I/c at RINL, said the parcels on offer are located in established areas of Visakhapatnam, including HB Colony, Maddilapalem and Auto Nagar. The meet, he said, allowed the portfolio and auction process to be explained directly to prospective bidders and their queries to be addressed, and RINL would continue to support NLMC in the structured and transparent monetisation of these non-core land assets.
NLMC is a wholly Government of India-owned company under the administrative control of the Department of Public Enterprises, Ministry of Finance, and supports the monetisation of surplus land and non-core assets of central public sector enterprises and other government entities. RINL is a Navratna central public sector enterprise under the Ministry of Steel.