RINL first phase land auction fetches Rs 243 cr
The second phase of auctions will be launched soon
Visakhapatnam: The auction of plots and blocks in three locations by Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant has evoked a good response.
About 220 enthusiastic bidders registered to participate in the e-auction. As many as 72 land parcels (63 plots and nine blocks) measuring 29,270 square yards were sold for Rs 243 crore through an online bidding platform. The second phase of auctions will be launched soon. “The e-auctions witnessed a good response from bidders including NRIs for RINL properties located at HB Colony, Autonagar and Pedagantyada in Visakhapatnam,” a company spokesman said. The auctions were conducted through NBCC India Ltd and National Land Monetisation Corporation Ltd (NLMC).
It may be recalled that the varied size of land plots/blocks from 129 to 5350 square yards to suit multiple segments of individuals, organisations had been offered for sale with reserve price ranges Rs 70,200 to Rs 85,800 per square yard. These properties are located at well-developed colonies in Visakhapatnam and all encumbrances are free with clear title vested in RINL.
