The National Land Monetization Corporation will e-auction 459 land parcels owned by Rashtriya Ispat Nigam Ltd, the corporate entity of Visakhapatnam Steel Plant, in Visakhapatnam in October, opening a large portfolio of residential and industrial-area plots to prospective buyers and developers.
The parcels together cover 93,572.21 square yards. Of the total, 456 residential plots are located in HB Colony and Maddilapalem, while three plots are situated in Auto Nagar, Gajuwaka. The auctions will be conducted through RailTel’s E-Nivida platform in two sessions.
NLMC said 243 plots will be auctioned on October 12, followed by the remaining 216 plots on October 16. Registration and submission of earnest money deposits will close on October 8 for the first auction session and October 14 for the second, according to the information released ahead of the auctions.
The residential plots in HB Colony cover approximately 87,949.77 square yards. The individual plot sizes range from about 128.94 square yards to 2,728 square yards. HB Colony is an established residential area of Visakhapatnam, making the auction relevant to the city’s property market as well as to individual buyers and developers assessing available land.
The three Auto Nagar plots cover nearly 5,622.44 square yards. Auto Nagar in Gajuwaka is a commercial and industrial hub, giving these parcels a different urban and development context from the residential plots in HB Colony and Maddilapalem.
Ahead of the auction, NLMC completed a three-city investor outreach programme covering Visakhapatnam, Vijayawada and Hyderabad. The investor meetings were intended to brief prospective buyers, investors and developers on the land portfolio and the auction process. NLMC said the programme drew participation both in person and online, including interest from non-resident Indian and overseas buyers.
The auction will determine how the RINL-owned parcels move into private ownership or development through the stated e-auction process. For Visakhapatnam, the immediate milestones are the registration and earnest money deadlines in October, followed by the two auction sessions on October 12 and October 16.
