New Launch - India Real Estate Report 2026.
The National Land Monetisation Corporation will conduct an online auction for 459 plots of surplus land held by Rashtriya Ispat Nigam Limited in Visakhapatnam, Andhra Pradesh.
Bidding will take place on October 12 and 16 through the RailTel E-Nivida e-procurement platform.
The offering spans a total of 93,572 square yards across three locations in the city.
What Is Being Auctioned and Where
The plots are spread across HB Colony, Maddilapalem and Auto Nagar in Gajuwaka.
Each will be offered for outright sale through a government-backed online bidding process, opening a sizeable pool of urban land to individual buyers, developers and commercial users.
The Centre confirmed that the plots on offer carry clear titles a significant assurance that reduces the key risk associated with distressed or fragmented land sales.
The bulk of the offering is in HB Colony:
- HB Colony: 456 MIG and LIG residential plots, ranging from approximately 129 sq yd to 2,728 sq yd
- Auto Nagar (Block 2): a contiguous 2,728-sq-yd parcel located around 500 metres from NH16
- Auto Nagar (Block 3): two additional residential plots
- Maddilapalem: included in the overall offering
Also Read: Rs 1,351 Crore Bid for Century Mills Plot Faces BMC Panel
How the Process Works
Prospective bidders must complete online registration and Know Your Customer formalities before participating.
The earnest money deposit for each plot is ₹2 lakh. Bids will be submitted through the RailTel E-Nivida platform on the two designated auction dates.
Also Read: Tamil Nadu Makes First-Sale Property Registration Online
Part of a Broader Asset Monetisation Push
The RINL auction is part of the Centre's ongoing strategy to extract value from surplus land and non-core assets held by central public sector enterprises.
NLMC was set up specifically to manage and monetise such assets, channelling proceeds back to the government while simultaneously unlocking urban land for productive private use.
Visakhapatnam is an active real estate market with strong port-linked industrial activity, a growing services sector and ongoing infrastructure investment.
Making 459 plots of varying sizes available through a transparent online auction process with clear titles already confirmed gives individual buyers and developers a rare chance to acquire government-backed urban land in a city where quality supply has been constrained.
The Auto Nagar Block 2 parcel, at 2,728 sq yd and sitting 500 metres from a national highway, carries obvious commercial development potential that goes well beyond the residential plots forming the bulk of the HB Colony offering.
Enjoyed this update? Visit PropTech Pulse for more real estate news, investment insights and property market trends.
