RINL Land Auction in Vizag Generates ₹366 Crore on Day 1, Final Bidding Set for October 30
The National Land Monetisation Corporation (NLMC) on Tuesday successfully sold 150 plots belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity operating Visakhapatnam Steel Plant, for a total bid value of ₹366.33 crore against an aggregate reserve price of ₹312.48 crore, according to a Finance Ministry statement.
RINL Land Auction in Vizag Fetches ₹366.33 Crore
The successful bids recorded an average premium of 17.23 per cent over the reserve price, reflecting encouraging market participation and interest in the properties on offer, the statement said.
The NLMC’s e-auction also recorded significant price realisation, with the highest auction price crossing Rs 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, according to the statement.
Final Phase of Vizag Land E-Auction Scheduled for October 30
Following the encouraging response to the first phase on Day 1, 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, from 11 a.m. to 5 p.m., the statement said.
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, the statement said.
Interested bidders must complete their registration by October 27. 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/
How to Register for the RINL Land Auction
The first phase of the e-auction marks a significant milestone for the 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, the statement said.
The auction is being facilitated by the 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.
Government Pushes to Monetise Surplus Public Land
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, the 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, the NLMC and the RINL undertook investor outreach activities in Visakhapatnam, Vijayawada, and Hyderabad during September. 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, the statement added.
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