Business
9,000 crore land assets monetised so far in FY27
New Delhi: The National Land Monetisation Corporation (NLMC) has completed asset monetisation transactions worth ₹9,000 crore and is targeting another ₹5,000-6,000 crore in this financial year, which will take the cumulative value of monetisation to about ₹14,000-15,000 crore, its chief executive said. The NLMC, which is working under the aegis of the Department of Public Enterprises under the finance ministry, also has land assets worth another ₹4,000-5,000 crore belonging to public sector undertakings (PSUs) in the pipeline. These are at various stages of processing, providing an additional pipeline of potential transactions. "We have already completed a transaction worth ₹9,000 crore in the current financial year, and in the next few months, we will close transactions worth ₹5000- 6,000 crore," NLMC CEO Rohan Chandra Thakur told ET. He was speaking on the sidelines of a pre-bid meeting for the proposed e-auction of a 5.119-acre land parcel, worth ₹829 crore, in Delhi by state-run HIL Ltd. The plot has attracted interest from several developers, including Godrej, Omaxe and M3M. The NLMC has just closed two e-auctions for land parcels in Vizag. The first auctioned plot, with a reserve price of ₹312 crore, realised ₹366 crore-a premium of about 17%, Thakur said. Live Events The results of the second auction for 180 plots of Rashtriya Ispat Nigam are expected this week. Beyond large land parcels, the NLMC is preparing residential flats, houses and commercial properties across cities for monetisation. Valuation exercises are underway for residential properties in Delhi, Mumbai, Prayagraj and Kolkata. A separate exercise covers seven residential flats and one commercial property in Delhi and Mumbai. Thakur said that the proposed land parcels include those from BSNL, MTNL and PSUs under ministries of chemical and fertilisers and steel. ET first reported in August that the DPE had given its final approval on monetising property worth ₹13,500 crore, clearing the way for the NLMC to take a clutch of high-value properties of MTNL, BSNL and Rashtriya Ispat Nigam to the market. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel)
Economic Times·4 hours ago·2 min read
