New Delhi: The National Land Monetisation Corporation (NLMC) will auction 459 land parcels belonging to Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, in two phases on October 12 and 16, 2026.
The land parcels, spread across 93,572.21 square yards in Visakhapatnam, include properties in HB Colony, Maddilapalem and Auto Nagar in Gajuwaka. The plots range from approximately 128.94 square yards to 2,728 square yards.
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Ahead of the auction, NLMC, under the Department of Public Enterprises (DPE), Ministry of Finance, conducted a physical mock e-auction training session in Visakhapatnam on October 6 to familiarise prospective bidders with the online bidding process.
The corporation also organised an online mock e-auction training session on October 7 for prospective bidders and stakeholders who could not attend the physical programme.
The training covered the bidding interface, participation procedure and other key aspects of the online auction process, enabling prospective bidders to gain practical experience of the platform before the live auctions.
The first phase of the auction will cover 243 plots and will be held on October 12 from 11:00 AM to 7:00 PM. The second phase, covering the remaining 216 plots, will be conducted on October 16 during the same hours.
Prospective bidders participating in the first phase have to complete registration and submit the prescribed earnest money deposit (EMD) by October 8, 2026, at 5:00 PM. For the second phase, the deadline for registration and EMD submission is October 14, 2026, at 5:00 PM.
The EMD has been fixed at Rs 2 lakh per plot for both phases.
The properties are being offered through a transparent and competitive e-tender-cum-e-auction process on the RailTel E-Nivida e-Procurement Platform. Quikr India Pvt. Ltd. (QIPL) has been appointed as the transaction consultant for the process.
NLMC CEO Rohan Chand Thakur said the physical and online mock auction sessions were aimed at ensuring that prospective bidders were familiar with the digital bidding process and had sufficient opportunity to complete the necessary formalities within the prescribed timelines.
He said the RINL land auction represents a significant asset monetisation opportunity and NLMC is committed to facilitating the process in a transparent, structured and professional manner.
NLMC has also conducted investor meets in Visakhapatnam, Vijayawada and Hyderabad as part of its outreach ahead of the auction. The meetings provided prospective buyers and other stakeholders information on the land parcels, auction process, eligibility requirements and related procedures.
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The investor meets were attended by prospective buyers through both physical and virtual modes, including participants from outside the region and overseas.
The RINL land auction is part of NLMC's mandate to facilitate the monetisation of surplus land and non-core assets of Central Public Sector Enterprises (CPSEs) and government agencies.
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