Govt gets moving on monetising surplus realty

The move comes as Centre seeks to raise more resources to meet the requirements of higher spending

NEW DELHI: National Land Monetisation Corporation Limited (NLMC), a fully-owned govt company, has recommended monetising surplus land and building assets valued at over Rs 5,000 crore.The move comes as Centre seeks to raise more resources to meet the requirements of higher spending during the current fiscal year."The proposals cover surplus land and building assets identified for monetisation and represent a significant step towards advancing the govt's objective of unlocking the value of underutilised and surplus assets," an official statement said after the company's board meeting.These surplus assets are held by central public sector enterprises (CPSEs) and other govt entities."The corporation has been working closely with asset-owning entities to identify suitable assets, undertake necessary due diligence, facilitate valuation and structure appropriate monetisation processes, with an emphasis on transparency, efficiency and value realisation... The discussions focused on expediting the monetisation process, addressing implementation-related requirements and ensuring that identified assets move forward through appropriate and transparent mechanisms," it added.