Visakhapatnam: The National Land Monetisation Corporation (NLMC) has withdrawn 35 plots owned by Rashtriya Ispat Nigam Limited (RINL) in Visakhapatnam from its proposed e-auction following a court order barring their sale. The corporation has also revised the bidding schedule for the remaining plots.
In a corrigendum issued on October 26, NLMC said the 35 parcels would not be offered for sale under the request for proposal issued on August 31. It referred prospective bidders to an annexed schedule listing the withdrawn plots and said the decision was in compliance with the court’s orders.
A second corrigendum, issued on October 28, revised the auction timeline. Bidders must now complete registration and submit their earnest money deposit by 8 pm on November 1. The e-auction of the available plots is scheduled to take place from 11 am to 5 pm on November 3.
The corporation has advised prospective buyers to read both corrigenda carefully before registering and paying the deposit. Interested parties can inspect the properties by scheduling appointments in advance. Letters of acceptance will be issued to successful bidders after the auction.
The withdrawal follows an auction held on October 12, when 256 plots were reportedly offered and around 470 bidders participated. According to media reports, approximately 150 plots were sold for Rs 366 crore, exceeding the management estimate of Rs 312.48 crore. Rates for some prime plots reportedly crossed Rs 1.80 lakh per square yard. These figures could not be independently verified.
The plots belong to RINL, the state-owned steelmaker that operates the Visakhapatnam Steel Plant. However, the corrigenda do not specify the court that issued the order or detail its terms. The value of the withdrawn parcels and the number of plots remaining in the auction have also not been disclosed.
The documents do not indicate whether the withdrawal is temporary or whether the 35 plots could be auctioned at a later date. While one media report described the parcels as withdrawn and another as suspended, the revised schedule confirms that the auction of the remaining plots is set to proceed on November 3.
(With inputs from media reports)