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The National Land Monetization Corporation (NLMC) aims to attract maximum market interest as it held a pre-bid meeting for the proposed e-auction of a prime 5.119-acre land parcel owned by Hindustan Insecticides Limited (HIL) in the national capital.
Speaking to ANI on the sidelines of the pre-bid meeting for the e-auction of the 5.119-acre HIL (India) land parcel in New Delhi, Rohan Chand Thakur, Chief Executive Officer of the National Land Monetization Corporation, emphasised the agency's effort to engage prospective buyers. Today's investor meeting, or investor roadshow, was about Hindustan Insecticides' five-acre land in Delhi. We want to send out a message to attract as many investors as possible so they can participate in the bidding, Thakur said. Over the next few weeks, if they have any questions or doubts, please reach out to NLMC or HIL. We have shared our details and will answer all of them, he added. Operating under the administrative control of the Department of Public Enterprises, Ministry of Finance, NLMC structured the session alongside transaction advisor CBRE India and HIL officials to brief prospective bidders on site features, development parameters, and request for proposal terms. Addressing the physical condition and legal clarity of the asset, Thakur underlined the advantages of public sector ownership in avoiding typical market disputes. This land is five acres. There is absolutely no built-up structure on it. It comes with completely clean titles from Hindustan Insecticides, which is a fully government-owned public sector enterprise of India. So, there are no issues with the title, unlike the challenges you often face in real estate, Thakur stated. So we want it to be clean, flat, and consolidated and we have also disclosed the FAR and other details, and the FAR is good. So we just want to say that this is a very good opportunity for investors, he noted. The parcel, located in the Najafgarh Industrial Area along Shivaji Marg and Rohtak Road, carries a reserve price of Rs 829.69 crore. It provides approximately 140 metres of direct road frontage and public transport access through the Delhi Metro Green Line. Technical disclosures indicate a development potential of floor space index up to 400, alongside transit-oriented development provisions under the Master Plan for Delhi 2021, subject to statutory clearances. Thakur noted that the neighbourhood already supported high-density development, which had drawn key market entities to the outreach session. I personally visited the site, and I saw during the visit that DLF has built a residential colony right next to it. Even today, four or five investors like Omaxe, Godrej, and Virtual Realtors showed interest and came here, he said. So, to those kinds of investors who contacted usI've given you some names. We hope that more people will come forward, Thakur stated. The transaction marked the third e-auction advertised by NLMC within two months, reflecting the Central Government's structured programme to monetise non-core, surplus enterprise assets through competitive bidding. (ANI)
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