The National Land Monetisation Corporation (NLMC) has initiated the process to auction a 5.119-acre land parcel owned by HIL (India) in New Delhi, with a reserve price of Rs. 8.3 bn. The sale is part of the Centre’s efforts to unlock value from surplus and under-utilised assets held by public sector enterprises. The proposed transaction is the third e-auction publicly advertised by NLMC in the last two months. The initiative is intended to promote the productive use of surplus land owned by Central Public Sector Enterprises while generating value through transparent and competitive bidding processes. The property is located in the Najafgarh Industrial Area along Rohtak Road and Shivaji Marg. It has approximately 140 metres of road frontage and is connected to the Delhi Metro’s Green Line, while applicable Transit-Oriented Development provisions permit a Floor Space Index of up to 400, subject to statutory conditions and approvals. NLMC held a pre-bid meeting in New Delhi to brief prospective bidders on the property’s location, development potential, land-use provisions, eligibility requirements and auction terms. Officials said the meeting was intended to provide clarity and support informed participation in the online bidding process. HIL’s management said the outright sale would help facilitate productive utilisation of the asset and enable eligible developers to assess its future development. The property is currently designated for industrial use, although conversion is permitted under applicable norms and approvals. The highest bid will determine the sale price, with bidding required in multiples of Rs. 10 mn per acre. Consortium participation is permitted for up to three members, and bidders must provide earnest money through a bank guarantee or NEFT/RTGS as specified in the Request for Proposal. Representatives of NLMC, HIL (India) and CBRE India, the transaction adviser, addressed queries about the auction documents, technical and financial submissions, eligibility criteria and bidding procedure. NLMC is wholly owned by the government and operates under the administrative control of the Department of Public Enterprises in the Ministry of Finance.