The National Land Monetisation Corporation (NLMC) has extended the deadline for bids for ITI Limited’s 44-acre land parcel in Bengaluru’s KR Puram by 10 days, even as the Karnataka government cautions prospective buyers against participating in the auction.
Bengaluru | September 3, 2026
Under the revised notification, the pre-bid meeting will be held on September 21, while the last date for registration and submission of technical bids is September 28. The reserve price for the parcel, located between Old Madras Road and ITPL Road, has been fixed at Rs 1,685.40 crore.
The proposed KR Puram land sale has faced objections from the Bengaluru Urban district administration. In a notice issued on August 20, the administration said the land was originally acquired by the Karnataka government for the specific public purpose of establishing and expanding the ITI factory.
The objection covers land spread across survey numbers 69, 70, 74, 75, 76, 77 and 125 of KR Puram village. A Revenue Department official said the state government had initiated the process of taking back the land and claimed that it could not be sold for purposes other than those for which it was originally acquired without the state government’s consent.
“We have initiated the process of taking back the said lands. There is no provision to put the land on sale for purposes other than those for which it was originally acquired without the consent of the state government,” the official said. The department has also issued a notice to ITI Limited.
The Karnataka government has separately advised the public against entering into transactions concerning the property solely on the basis of ITI’s public notice. It has asked prospective purchasers to verify the status of the proceedings with the competent authority before taking part in any transaction.
Despite the state’s warning, the proposed auction has not been withdrawn. Senior ITI officials declined to comment on the government’s notice but told Deccan Herald that the auction process remained in place.
The bid document identifies ITI Limited as the asset owner and NLMC as the transaction adviser for the outright sale. It also requires prospective bidders to independently verify the marketability and validity of the title before participating in the auction.
The revised schedule includes a mock auction on September 11 and the opening of technical bids on September 16. The dates for declaring technically qualified bidders and conducting the actual e-auction have not yet been announced.
The immediate next steps are the mock auction, the opening of technical bids and the pre-bid meeting scheduled for September 21. NLMC had been contacted for a comment, but its response was awaited at the time of publication.
