The second round of auctions for land belonging to Rashtriya Ispat Nigam Limited attracted successful bids worth ₹218 crore across 114 parcels on November 3, the Finance Ministry said on Wednesday. RINL operates the Visakhapatnam Steel Plant.
The National Land Monetization Corporation conducted the online auction. Its successful bid total was 17.96% above the aggregate reserve price of ₹184.81 crore. The highest successful price in the second round was ₹1,82,650 per square yard, according to the ministry’s results.
Together with the first round held on October 12, the exercise has covered 264 parcels with combined successful bids of ₹584.33 crore. Those figures describe auction bids, rather than a separate confirmation that all payments or property transfers have been completed.
ANI’s report also noted plans for a third auction covering remaining unsold parcels. NLMC said that round remains subject to applicable approvals and conditions. Its schedule and other details will be announced later.
Archive illustration: Visakhapatnam coastline at dusk, uploaded in 2007. The photograph does not identify the auctioned land parcels. Photo: Vishakapatnam dusk panorama by PlaneMad, via Wikimedia Commons, CC BY-SA 2.5. Resized for display; display may be cropped. Any image adaptation remains under the linked licence.
