The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises (DPE), Ministry of Finance, Government of India, successfully conducted Day 1 of the e-auction of premium land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity operating Visakhapatnam Steel Plant. The first phase marks a significant milestone for NLMC, as it is the Corporation’s first end-to-end e-auction, demonstrating a structured, transparent and technology-driven approach towards monetising 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 in the properties on offer.

The auction also recorded significant price realisation, with the highest auction price crossing ₹1.80 lakh per square yard. This strong price discovery reflects robust market demand for well-located land parcels in Visakhapatnam. It underscores the role of a transparent and competitive e-auction process in unlocking the economic potential of public assets.

The auction is being facilitated by NLMC in coordination with RINL, with Quikr India Private Limited (QIPL) serving as the Transaction Consultant. The online bidding process is being conducted through RailTel’s E-Nivida platform.

The e-auction forms part of the broader effort to facilitate the productive utilisation of surplus land assets held by Central Public Sector Enterprises (CPSEs) and other government entities. Through a structured and market-driven process, NLMC works with asset-owning organisations to bring identified properties to the market, encourage participation from prospective buyers and support transparent value discovery.

Ahead of the auction, NLMC and RINL undertook investor outreach activities in Visakhapatnam, Vijayawada and Hyderabad during September 2026. These meetings provided prospective bidders with an opportunity to understand the properties on offer, seek clarifications and familiarise themselves with the participation process.

The outreach programme also helped address queries relating to registration, documentation, Earnest Money Deposit (EMD) requirements and online bidding. These efforts were aimed at widening awareness, facilitating bidder participation and ensuring that interested buyers had access to relevant information before participating in the e-auction.

The successful outcome of Day 1 of the RINL land e-auction marks an important step in NLMC’s efforts to facilitate transparent and competitive monetisation of public assets. The response to the auction demonstrates the potential of well-structured market processes to attract investor interest and support value realisation from surplus government assets.

Final Opportunity to Own Land in Visakhapatnam: Second Phase of RINL E-Auction on October 30 -

Following the encouraging response to the first phase, the second and final phase of the e-auction offers prospective buyers another opportunity to acquire land parcels in key locations of Visakhapatnam. The second phase will cover the remaining 216 land parcels and has been rescheduled to October 30, 2026, from 11:00 AM to 5:00 PM. As this is the final phase of the current auction, interested buyers are encouraged to review the available plots and complete their registration within the prescribed timeline. The first-phase results provide prospective bidders with an indication of market participation and price discovery, making this an important opportunity for those looking to explore land ownership in Visakhapatnam.

Interested bidders must complete their registration by October 27, 2026. Details of the available land parcels, reserve prices, eligibility conditions and participation requirements can be accessed on the official e-auction portal: https://eauction.enivida.com/.

Prospective buyers are encouraged to review the available information, undertake due diligence and complete the necessary formalities before the deadline to participate in the final phase of the auction.

About NLMC

The National Land Monetization Corporation (NLMC) is a Government of India company under the Department of Public Enterprises, Ministry of Finance. It facilitates the monetisation of surplus land and building assets of Central Public Sector Enterprises and other government agencies. NLMC works in coordination with asset-owning organisations to support the structured identification, preparation and monetisation of such assets through transparent and market-oriented processes.

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