Land monetisation company raises Rs 218 crore in its second RINL plot auction at Visakhapatnam

3 November 2026

The National Land Monetisation Corporation has completed the second phase of its e-auction of surplus land belonging to Rashtriya Ispat Nigam Limited at Visakhapatnam. In this phase 114 plots were sold for about Rs 218 crore, against a combined reserve price of about Rs 184.81 crore, which works out to bids averaging 17.96 per cent above reserve. The highest bid was Rs 1,82,650 a square yard, and one plot fetched a premium of 67.65 per cent over its reserve price. In the first phase in October, 150 plots had been sold for about Rs 366.33 crore against a reserve of Rs 312.48 crore. Taken together, 264 plots have been sold for about Rs 584.33 crore against a reserve of Rs 497.29 crore, a premium of 17.50 per cent. NLMC is a wholly government-owned company under the Department of Public Enterprises in the Ministry of Finance, set up to monetise surplus land and buildings of central public sector enterprises. RINL runs the Visakhapatnam Steel Plant. A third auction is planned for the remaining plots.