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.

New Delhi: Eleven government flats in Uttar Pradesh’s Prayagraj are going under the hammer. The National Land Monetisation Corporation (NLMC) will hold an online auction of the flats on 11 December as part of its plan to generate revenue from government land that is not being used productively.

The 2- and 3-bedroom flats range from 96 to 139 sq m and are located across three developments on Muir Road, Thornhill Road and in Civil Lines. Five are located on Muir Road, four on Thornhill Road and the remaining two in Civil Lines. NLMC issued a statement on Tuesday outlining the details.

The auction of the 11 residential flats in Prayagraj is expected to generate around ₹25 crore. The auction is part of the government’s broader asset monetisation drive.

The Centre wants to raise ₹80,000 crore in fiscal year 2027 (FY27) by selling stakes in state-run companies and monetising assets. So far, it has collected ₹55,757.29 crore from minority stake sales in central public sector enterprises (CPSEs) and ₹6,366.93 crore from selling land.

NLMC has already brought in about ₹9,000 crore from asset sales and expects another ₹5,000 crore before the fiscal year ends.

More sales are lined up. These include homes like the Prayagraj flats, as well as unused land and other assets of ministries such as telecommunications and steel.

The proposed auction provides an opportunity for the government to unlock value from residential assets while allowing individual buyers and investors to acquire properties through a competitive bidding process.

Earlier, on 3 November, NLMC chief executive Rohan Chand Thakur had told Mint that although the residential units were relatively small, their sale would add to the corporation's revenue and form part of its broader asset monetisation efforts.

NLMC, a wholly owned government company under the administrative control of the department of public enterprises in the finance ministry, is mandated to monetise surplus land and buildings held by central public sector enterprises (CPSEs) and other government agencies.

As per the statement, the pre-bid meeting for the Prayagraj properties is scheduled for 20 November at 11 am, and interested participants can register and deposit the earnest money deposit (EMD) by 7 December. The online auction will be held between 11 am and 5 pm on 11 December, it said.

The RFP contains details of the properties, eligibility criteria, EMD requirements, bidding procedures and payment conditions, and it can be accessed through the designated e-auction portal, it said.

The latest auction comes amid the government's broader push to unlock value from underutilised public-sector land and buildings. NLMC has been tasked with facilitating the monetisation of surplus land assets of CPSEs and other government entities, thereby reducing the burden of maintaining idle properties and generating proceeds for the exchequer.

About the Author

Dhirendra Kumar is a seasoned policy reporter with about 20 years of experience in deep, on-ground reporting across key economic and governance sectors. His work spans finance, public expenditure, disinvestment, public sector enterprises, textiles, trade, consumer affairs, and agriculture, with a strong focus on uncovering structural policy shifts and their real-world impact.<br><br>Kumar has been awarded the Chaudhary Charan Singh Award for Excellence in Journalism in Agricultural Research and Development, recognising his contribution to reporting on critical issues in the farm sector. He has also been a recipient of a fellowship in international trade from the National Press Foundation, which has further strengthened his coverage of global trade dynamics and their implications for India.<br><br>Kumar is known for breaking complex policy developments into clear, accessible stories. His reporting focuses on uncovering under-reported trends, explaining policy shifts, and helping readers stay informed about developments that shape India’s economic landscape.