RINL to put over 450 plots in Vizag on block

New Delhi: The Centre plans to sell a large chunk of Rashtriya Ispat Nigam Ltd's (RINL) urban land assets in Visakhapatnam in Andhra Pradesh.

The sale, conducted by the National Land Monetisation Corporation (NLMC), will see bidding for 459 plots spread across 93,572 square yards (sq yd) in an online auction. In the request for proposal issued Monday, NLMC said the bidding will take place on October 12 and 16 through the RailTel E-Nivida e-procurement platform. The move is part of the Centre's push to extract value from surplus land and non-core assets held by central public sector enterprises.

The land parcels, in HB Colony, Maddilapalem, and Auto Nagar, Gajuwaka, will be offered for outright sale through a government-backed online bidding process, potentially opening a sizeable pool of land to individual buyers, developers and commercial users.


The largest component of the offering is in HB Colony, where 456 MIG and LIG residential plots are being auctioned. The plots range from about 129 sq yd to 2,728 sq yd.

The Auto Nagar offering includes a 2,728-sq-yd contiguous parcel in Block 2, located around 500 m from NH16. Two residential plots in Block 3 are also part of the sale. The Centre said the plots on offer have clear titles, reducing a key risk associated with distressed or fragmented land sales.

Prospective bidders must complete online registration and know your customer formalities. The earnest money deposit for each plot is ₹2 lakh.