The National Land Monetization Corporation (NLMC), a Government of India company under the Department of Public Enterprises, Ministry of Finance, has successfully completed the first phase of an online auction of surplus land belonging to Rashtriya Ispat Nigam Limited (RINL), which operates the Visakhapatnam Steel Plant. This marks NLMC’s first end-to-end e-auction and represents a structured effort to convert idle public sector assets into revenue through transparent market processes.
The first phase of the auction, completed on a single day in October 2026, saw strong investor participation. A total of 150 land parcels were sold, generating successful bids worth ₹366.33 crore, substantially exceeding the combined reserve price of ₹312.48 crore. The outcome demonstrates the effectiveness of transparent, technology-driven auction methods in discovering true market value for government-held properties.
Key facts
- Day 1 successful bid value: ₹366.33 crore
- Aggregate reserve price: ₹312.48 crore
- Land parcels sold in Phase 1: 150 plots
- Average premium over reserve price: 17.23%
- Highest auction price: Crossed ₹1.80 lakh per square yard
- Location: Visakhapatnam, Andhra Pradesh
- Phase 2 auction date: October 30, 2026, 11:00 AM to 5:00 PM
- Phase 2 land parcels remaining: 216 plots
- Registration deadline for Phase 2: October 27, 2026
- Transaction Consultant: Quikr India Private Limited
- Online bidding platform: RailTel’s E-Nivida platform
What was auctioned
RINL, a central public sector enterprise, held surplus land parcels in Visakhapatnam that were not required for operational purposes. Rather than letting these assets remain idle, the government decided to monetise them through a competitive bidding process. The first phase included 150 plots, with a second phase of 216 additional plots scheduled for October 30, 2026. This two-phase approach allows prospective buyers multiple windows to participate.
How the auction worked
The e-auction was conducted entirely online through RailTel’s E-Nivida platform, ensuring transparency and accessibility to bidders across regions. Before the auction, NLMC and RINL conducted investor outreach programmes in Visakhapatnam, Vijayawada and Hyderabad during September 2026. These meetings helped potential buyers understand property details, clarify documentation requirements, learn about Earnest Money Deposit (EMD) obligations and familiarise themselves with the online bidding process. Quikr India Private Limited served as the Transaction Consultant, assisting with the overall auction framework.
Price performance and market response
The auction generated strong interest, evident from bids that exceeded reserve prices by an average of 17.23%. The highest bid for any single plot crossed ₹1.80 lakh per square yard, reflecting robust demand for well-positioned land in Visakhapatnam. This price discovery mechanism underscores how competitive, transparent processes can unlock the true economic value of public assets that might otherwise remain underutilised.
What NLMC does
The National Land Monetization Corporation works with Central Public Sector Enterprises (CPSEs) and government agencies to identify, prepare and auction surplus land and building assets. By using market-driven, transparent processes, NLMC aims to generate revenue for the government while ensuring fair access for prospective buyers. The corporation coordinates with asset-owning organisations to manage all aspects of monetisation, from property identification to final sale.
What this means for you
If you are a prospective buyer, investor or real estate developer interested in acquiring land in Visakhapatnam, the second phase of this auction on October 30, 2026, offers a final opportunity to bid for 216 remaining plots. The Phase 1 results provide a reference point for understanding market prices and competition levels. Interested buyers should register by October 27, 2026, and review property details, reserve prices and eligibility conditions on the official e-auction portal at https://eauction.enivida.com/.
What happens next
The second and final phase of the RINL land e-auction is scheduled for October 30, 2026, from 11:00 AM to 5:00 PM. Prospective bidders must complete their registration by October 27, 2026, to participate. All auction details, including property descriptions, reserve prices, eligibility requirements and bidding instructions, are available on the official e-auction portal.