NLMC Phase II RINL Land Auction Fetches Rs 218 Crore

The National Land Monetization Corporation (NLMC) has wrapped up the second round of electronic bidding for surplus land held by Rashtriya Ispat Nigam Limited (RINL), the company that runs the Visakhapatnam Steel Plant. Bidding closed at Visakhapatnam on 3 November 2026, and the Ministry of Finance put out the result on 4 November 2026. NLMC is a wholly government-owned company placed under the Department of Public Enterprises.

What the second round fetched

Buyers took 114 land parcels in this round. Winning bids added up to Rs 218 crore, while the floor price fixed for those same plots stood at Rs 184.81 crore. The round therefore closed 17.96 per cent above the floor. The dearest plot went at Rs 182,650 per square yard, and on one plot the winning offer ran 67.65 per cent above its own reserve price.

Both rounds added up

The opening round, held on 12 October 2026, had placed 150 parcels for Rs 366.33 crore against a floor of Rs 312.48 crore, a margin of 17.23 per cent, with the top rate crossing Rs 1.80 lakh per square yard. Putting the two rounds together, 264 parcels have changed hands for Rs 584.33 crore against a combined floor of Rs 497.29 crore, an overall margin of 17.50 per cent.

Why the sale matters

This was the first sale NLMC steered from start to finish on its own, covering the readying of the assets, the shape of the deal, the hunt for investors and the running of the online bidding itself. Closing two rounds inside a single month gives the young corporation a working yardstick for the bigger land sales ahead. A third round for the plots still unsold is on the cards, and its dates will be put out later.

The bigger push

The sale feeds the Centre's wider drive to draw cash out of idle land and buildings sitting with central public sector units. NLMC's job is to spot such assets, assess and ready them, and then place them in the market through open, competitive bidding so that the money locked in them returns to the public purse.