The National Land Monetization Corporation (NLMC), under the Department of Public Enterprises of the Union Finance Ministry, has successfully conducted the first full-scale e-auction of Visakhapatnam Steel Plant (RINL) land. Quicker India Pvt Ltd (QIPL) as transaction consultant completed the process transparently through RailTel's 'e-Nivida' platform.
Out of the plots placed in the first phase, 150 plots were sold, fetching an average of 17.23 per cent higher than the fixed reserve price. Lands in prime areas of the city are in high demand with a maximum of ₹1.80 lakh per square yard.This effort by the NLMC to monetize the surplus land held by the Public Sector Undertakings in an efficient and technology-based manner has been successful.
As part of this process, the remaining 216 plots will be auctioned in the second phase. The final phase of the auction will be held on October 30 from 11 am to 5 pm. Officials have advised buyers who wish to secure plots in Visakhapatnam to complete the registration process through the official portal (eauction.enivida.com) by October 27.
