NLMC's First E-Auction of RINL Land Parcels Generates ₹366.33 Crore
The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises, Ministry of Finance, successfully conducted Day 1 of its first end-to-end e-auction of premium land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity operating Visakhapatnam Steel Plant. This auction represents a significant milestone for NLMC, demonstrating a structured, transparent and technology-driven approach to monetizing surplus public assets.
Of the land parcels offered in the first phase, 150 plots were successfully sold, generating a total successful bid value of ₹366.33 crore against an aggregate reserve price of ₹312.48 crore. The successful bids recorded an average premium of 17.23% over the reserve price, reflecting encouraging market participation and interest. The auction achieved significant price realization, with the highest auction price crossing ₹1.80 lakh per square yard, indicating robust market demand for well-located land parcels in Visakhapatnam.
The auction was facilitated by NLMC in coordination with RINL, with Quikr India Private Limited serving as the Transaction Consultant. The online bidding process was conducted through RailTel's E-Nivida platform. Ahead of the auction, NLMC and RINL undertook investor outreach activities in Visakhapatnam, Vijayawada and Hyderabad during September 2026, providing prospective bidders with opportunities to understand the properties, seek clarifications, and familiarize themselves with the participation process including registration, documentation, Earnest Money Deposit requirements, and online bidding procedures.
Second Phase Auction Scheduled for October 30
Following the successful first phase, a second and final phase of the e-auction has been scheduled for October 30, 2026, from 11:00 AM to 5:00 PM. This phase will cover the remaining 216 land parcels available in key locations of Visakhapatnam. Interested bidders must complete their registration by October 27, 2026. Details of available land parcels, reserve prices, eligibility conditions, and participation requirements can be accessed on the official e-auction portal: https://eauction.enivida.com/.
This e-auction forms part of the broader effort to facilitate productive utilization of surplus land assets held by Central Public Sector Enterprises and other government entities through structured and market-driven processes.