New Delhi, Nov 3 (PTI) The National Land Monetisation Corporation (NLMC) has initiated the process to monetise a 5.119-acre land parcel owned by HIL (India) in the national capital at a reserve price of ₹829.69 crore, as part of the government's efforts to unlock value from surplus public sector assets.
The proposed sale marks the third e-auction advertised by NLMC in the last two months, reflecting the government's continued push to monetise surplus and under-utilised land assets of Central Public Sector Enterprises (CPSEs).
NLMC on Tuesday organised a pre-bid meeting in New Delhi to familiarise prospective bidders with the property's location, development potential, applicable land-use provisions, eligibility requirements and terms and conditions governing the proposed online auction.
The land parcel, situated in the Najafgarh Industrial Area along Rohtak Road, Shivaji Marg, has approximately 140 metres of road frontage and is connected to the Delhi Metro's Green Line.
It offers development potential of Floor Space Index (FSI) up to 400 under applicable Transit-Oriented Development (TOD) provisions, subject to statutory conditions and requisite approvals.
"The Government of India has accorded significant priority to the monetisation of surplus and underutilised land assets of Central Public Sector Enterprises. The third e-auction publicly advertised by NLMC within the last two months reflects our continued efforts to translate this priority into tangible outcomes," NLMC Chief Executive Officer Rohan Chand Thakur said.
{{/usCountry}}"The Government of India has accorded significant priority to the monetisation of surplus and underutilised land assets of Central Public Sector Enterprises. The third e-auction publicly advertised by NLMC within the last two months reflects our continued efforts to translate this priority into tangible outcomes," NLMC Chief Executive Officer Rohan Chand Thakur said.
{{/usCountry}}He said that the endeavour is to unlock the economic value of public assets through transparent, structured and competitive processes while facilitating their productive utilisation.
"The HIL land parcel, given its strategic location and development potential, presents an opportunity for eligible participants to explore its future utilisation. The Pre-Bid Meeting is an important step towards ensuring clarity, transparency and informed participation in the bidding process," Thakur added.
HIL (India) Chairman and Managing Director Kuldeep Singh said the land parcel being offered for outright sale represents a significant asset of the company.
"Through this monetisation initiative, we seek to facilitate the productive utilisation of the asset while providing prospective developers and eligible bidders an opportunity to participate in its future development.
"We encourage interested participants to examine the auction documents and actively participate in the competitive bidding process," he said.
The property is currently designated for industrial use, with conversion permissible subject to applicable norms and approvals. The proposed transaction will be through an online e-auction, with the highest bid determining the sale price. Bidding will be in multiples of ₹1 crore per acre.
Consortium participation is permitted, with a maximum of three members.
Bidders are required to furnish the earnest money deposit through a bank guarantee or NEFT/RTGS, as stipulated in the Request for Proposal (RFP).
Representatives of NLMC, HIL (India) and CBRE India, the transaction advisor, participated in the pre-bid meeting and addressed queries relating to the property, auction documents, technical and financial bid submissions, eligibility criteria and the bidding process.
NLMC is a wholly owned government company under the administrative control of the Department of Public Enterprises, Ministry of Finance.