NLMC to Auction HIL Land Parcel in Delhi for Rs. 8.3 bn
ECONOMY & POLICY

NLMC to Auction HIL Land Parcel in Delhi for Rs. 8.3 bn

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 at 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 Central Public Sector Enterprises (CPSEs).

The proposed transaction is the third e-auction publicly advertised by NLMC in the past two months. The corporation 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 terms governing the online auction.

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. The parcel offers a Floor Space Index (FSI) of up to 400 under applicable Transit-Oriented Development provisions, subject to statutory conditions and approvals.

The land 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 to take place in multiples of Rs. 10 mn per acre. Consortium participation is allowed, with a maximum of three members, while bidders must furnish earnest money through a bank guarantee or NEFT or RTGS transfer as specified in the Request for Proposal.

Representatives of NLMC, HIL (India) and transaction advisor CBRE India addressed queries on the property, auction documents, technical and financial submissions, eligibility criteria and the bidding process. HIL said the outright sale would support productive utilisation of the asset and provide eligible developers and bidders an opportunity to participate in its future development. NLMC is a wholly owned government company under the administrative control of the Department of Public Enterprises in the Ministry of Finance.

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 at 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 Central Public Sector Enterprises (CPSEs). The proposed transaction is the third e-auction publicly advertised by NLMC in the past two months. The corporation 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 terms governing the online auction. 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. The parcel offers a Floor Space Index (FSI) of up to 400 under applicable Transit-Oriented Development provisions, subject to statutory conditions and approvals. The land 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 to take place in multiples of Rs. 10 mn per acre. Consortium participation is allowed, with a maximum of three members, while bidders must furnish earnest money through a bank guarantee or NEFT or RTGS transfer as specified in the Request for Proposal. Representatives of NLMC, HIL (India) and transaction advisor CBRE India addressed queries on the property, auction documents, technical and financial submissions, eligibility criteria and the bidding process. HIL said the outright sale would support productive utilisation of the asset and provide eligible developers and bidders an opportunity to participate in its future development. NLMC is a wholly owned government company under the administrative control of the Department of Public Enterprises in the Ministry of Finance.

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