The auction towards the sale of RINL (Vizag Steel Plant) land blocks or plots by the National Land Monetization (NLMC) in the port city through AP (Phase-1) E-auction witnessed a good response from bidders including NRIs.
RINL properties located at HB Colony near Seetammadhara, Autonagar, and Pedagantyada in the city were put on auction on March 14 and March 15.
A total of 220 enthusiast bidders registered to participate in the e-auction. 72 Nos (63 plots and 9 blocks) of land plots or blocks measuring 29,270 sq yards were sold for Rs 243 crore through an online bidding platform.
The NLMC put the sale of 130 plots and 14 blocks of Vizag Steel Plant. Of which 63 plots and 9 blocks were sold out and the remaining properties would be put on sale for Phase II very soon.
It may be recalled that varied sizes of land plots or blocks from 129 square yards to 5350 square yards to suit multiple segments of individuals or organizations or corporations and others had been offered for sale.
The sale with reserve price ranges from Rs. 70,200 to Rs 85,800 per sq yd as all these properties are located at well-developed colonies or central business district in Visakhapatnam and all encumbrance free with clear title vested in RINL.
The authorities would conduct a phase II auction very soon. Steel Plant management informed that interested persons may contact through email or concerned officers during office hours including NLMC (National Land Monetization Corporation) general manager Rohin Koppuravuri, general manager (Town Admin and Contract) of RINL Y Chandrasekhar or NBCC ( National Buildings Construction Corporation) GM engineering wing G Rajaram.
