The National Land Monetization Corporation (NLMC) announced on Thursday the organisation of a series of Investor Meets in Visakhapatnam, Hyderabad and Vijayawada as part of its outreach initiative ahead of the e-auction of 459 land parcels owned by Rashtriya Ispat Nigam Limited (RINL – Visakhapatnam Steel Plant).
The National Land Monetization Corporation is an organisation under administrative control of the Department of Public Enterprises, Ministry of Finance. The company has been established to facilitate the monetisation of surplus land and other non-core assets of CPSEs and other government agencies.
According to the statement released by the Ministry of Finance, the investor meets will be held on September 23 at Vishakhapatnam, September 24 at Vijayawada and September 25 at Hyderabad.
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According to the release, the meetings are meant to inform prospective investors, developers and other eligible participants of the land portfolio, auction process, bidding requirements and other relevant details as well as interaction with the concerned stakeholders.
The Ministry said the RINL land portfolio encompasses 459 plots spread across 93,572.21 square yards at HB Colony, Maddilapalem and Auto Nagar, Gajuwaka, in Visakhapatnam, with the individual plots ranging from approximately 128.94 square yards to 2,728 square yards.
According to the presser, the larger component of the land portfolio consists of 456 residential plots at HB Colony, spread across 87,949.77 square yards.
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It includes three plots at Auto Nagar, Gajuwaka, covering 5,622.44 square yards.
The properties offered during the e-auction process are located within residential, commercial and industrial areas of Visakhapatnam, stated the release.
Quikr India Pvt. Ltd. (QIPL) has been appointed as the Transaction Consultant for the process.
E-Auction Schedule
According to the Ministry, the e-auction will be conducted through the RailTel E-Nivida e-Procurement Platform in two sessions. The Earnest Money Deposit (EMD) is ₹2 lakh per plot.
Day 1 of the e-auctions will be held on October 12, which consists of 243 plots, for which the last date for registration and submission of EMD is October 8, 5:00 PM.
Day 2 of the e-auctions will be held on October 16, which consists of 216 plots, with the last date for registration and submission of EMD being October 14, 5:00 PM.
