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The Hindu
The Hindu
National
Special Correspondent

Cabinet nod for new firm to monetise land assets

The Union Cabinet on Wednesday approved the setting up of a new government-owned firm for pooling and monetising sovereign and public sector land assets. The National Land Monetisation Corporation (NLMC) is being formed with an initial authorised share capital of ₹5,000 crore and paid up capital of ₹150 crore.

The government will appoint a chairman to head the NLMC through a ‘merit-based selection process’ and hire private sector professionals with the expertise required for asset monetisation in areas such as real estate market research, legal due diligence, valuation, master planning, investment banking and land management.

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