NLMC puts 11 govt flats in Prayagraj up for e-auction
The National Land Monetization Corporation will auction 11 government flats in Prayagraj online on 11 December. The sale is a small part of its drive to raise ₹4,000-5,000 crore more this fiscal year.
Eleven government flats in Prayagraj, Uttar Pradesh, are up for online auction by the National Land Monetisation Corporation (NLMC). The flats, ranging from 96 to 139 square meters, will be sold as part of a plan to generate revenue from underutilized government land. The auction, scheduled for December 11, aims to raise around ₹25 crore.
This move is in line with the government's broader asset monetisation drive, which seeks to raise ₹80,000 crore in fiscal year 2027 through various means, including selling stakes in state-run companies and monetizing assets. NLMC has previously sold about ₹9,000 crore worth of assets and expects another ₹5,000 crore before the fiscal year's end.
The auction provides an opportunity for individual buyers and investors to acquire properties through a competitive bidding process.
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