New Delhi, November 4: The second phase of the RINL land auction in Visakhapatnam attracted successful bids worth Rs 218 crore for 114 land parcels, the Finance Ministry announced.
Bids exceed reserve price
National Land Monetization Corporation completed the auction on November 3. The successful bids were 17.96% above the aggregate reserve price of approximately Rs 184.8 crore.
For an individual parcel, the highest premium reached 67.65%. The highest successful bid price in the round was Rs 182,650 per square yard.
Two phases total Rs 584.33 crore
The first phase, held on October 12, covered 150 parcels and generated Rs 366.33 crore in successful bids. Across both phases, 264 parcels attracted bids totalling Rs 584.33 crore against a combined reserve price of Rs 497.29 crore.
RINL operates Visakhapatnam Steel Plant. The figures describe successful auction bids for surplus land and should be distinguished from operating revenue or steel production performance.
Image: RINL file photograph.