NLMC to e-auction HIL land parcel in Delhi for ₹830 crore
The National Land Monetisation Corporation has started the process to sell a 5.119-acre plot in the Najafgarh Industrial Area.
The National Land Monetisation Corporation (NLMC) has begun the process to monetise a 5.119-acre land parcel owned by HIL (India) in New Delhi. According to the Hindustan Times, the property has been put up for e-auction with a reserve price of ₹829.69 crore.
The land is located in the Najafgarh Industrial Area along Rohtak Road, Shivaji Marg, and features approximately 140 metres of road frontage. It is connected to the Green Line of the Delhi Metro and offers a Floor Space Index (FSI) of up to 400 under Transit-Oriented Development provisions, subject to approvals.
NLMC Chief Executive Officer Rohan Chand Thakur said the third e-auction in two months reflects the government's priority to monetise surplus and underutilised land assets of Central Public Sector Enterprises. He stated the goal is to unlock economic value through competitive and transparent processes.
HIL (India) Chairman and Managing Director Kuldeep Singh said the land being offered for sale is a major asset for the company. He noted that the initiative aims to allow for the productive use of the asset by developers and bidders.
The property is currently designated for industrial use, though conversion is possible following necessary approvals. The sale will be conducted via an online e-auction where the highest bid wins, with bidding increments set at ₹1 crore per acre.
A pre-bid meeting was held in New Delhi on Tuesday to discuss the auction terms and property details. Representatives from NLMC, HIL (India), and transaction advisor CBRE India attended the meeting to address queries regarding eligibility and the bidding process.