RINL land plots in Visakhapatnam to be sold via e-auction

The National Land Monetisation Corporation (NLMC) has announced the e-auction of 459 land parcels owned by the government-run steel company Rashtriya Ispat Nigam Limited (RINL) in Visakhapatnam, Andhra Pradesh.

The portfolio includes approximately 93,572.21 square yards of land. The assets consist of 456 residential plots located in the HB Colony, Maddilapalem area, which feature established civic infrastructure and proximity to National Highway 16. Additionally, the auction includes a 2,728-square-yard contiguous parcel in Auto Nagar, Gajuwaka, intended for commercial and logistics use, along with two residential plots in Block 3.

The competitive bidding process is scheduled to take place on October 12 and October 16 via the RailTel E-Nivida e-Procurement Platform. The approximate value of the properties is indicated at Rs 900 crore. This initiative is part of the NLMC's mandate to monetise surplus and non-core assets held by Central Public Sector Enterprises to unlock economic value.