Land Auction
RINL’s HB Colony land auction fetches ₹366.33 crore on opening day
The first phase of an e-auction of RINL-owned land in HB Colony, Visakhapatnam, fetched ₹366.33 crore on October 12, 2026. Of 456 residential plots offered there, 150 were sold, against an estimate of ₹312.48 crore.
| Auction date | October 12, 2026 |
|---|---|
| Opening-day proceeds | ₹366.33 crore |
| Estimate | ₹312.48 crore |
| Plots sold | 150 of 456 HB Colony plots |
| Auction administrator | National Land Monetisation Corporation (NLMC), on behalf of RINL |
| Reported bidding | Some prime plots drew bids above ₹1.80 lakh per square yard |
| Next scheduled portfolio auction date | October 16, 2026 |
Opening-day result
NLMC conducted the e-auction on behalf of Rashtriya Ispat Nigam Limited (RINL), the owner of the land. The ₹366.33 crore in reported auction revenue was ₹53.85 crore above the stated estimate. The result covers the first phase for HB Colony, not the full RINL land portfolio.
Of 456 plots offered in HB Colony, 150 were sold on the opening day. Reports said bids for some prime plots exceeded ₹1.80 lakh per square yard.
Vacant residential plots, not a housing launch
The land is in HB Colony, Maddilapalem, Visakhapatnam. NLMC’s pre-auction material identified the 456 plots as residential MIG/LIG plots and described the neighbourhood as an established urban area with civic and social infrastructure. It cited concrete approach roads between 24 and 60 feet wide and proximity to National Highway 16.
The plots had previously been occupied by residential quarters for steel-plant employees. The deteriorated buildings were demolished before the land was offered as vacant plots. This was a land auction, not a launch of newly built homes.
What the result means for buyers and the market
The auction makes plots available through a sale process, but the reported result does not establish whether successful bidders will build homes or what any future housing might cost. The reports did not identify buyers or provide buyer statements.
One news report characterised bidder competition as evidence of demand for land in prime Visakhapatnam locations. That is a report’s assessment, not an independent market study. The result alone does not establish how local home prices or land values will change.
Wider RINL portfolio and next date
NLMC’s September 1, 2026, pre-auction release described a wider portfolio of 459 parcels totalling 93,572.21 square yards. It included the 456 HB Colony plots and three parcels in Auto Nagar, Gajuwaka: one contiguous 2,728-square-yard parcel in Block 2 and two residential plots in Block 3. The release set an earnest money deposit of ₹2 lakh per plot and named Quikr India Pvt. Ltd. as transaction consultant.
The release scheduled auctions through the RailTel E-Nivida platform for October 12 and October 16, 2026. As of October 15, the second date was still upcoming. The published schedule covered the broader portfolio; the opening-day result reported here concerns HB Colony.
Frequently asked questions
How much did the HB Colony auction fetch?
The first phase fetched ₹366.33 crore on October 12, 2026, against an estimate of ₹312.48 crore.
How many HB Colony plots were sold?
150 of the 456 plots offered were sold on the opening day.
Who conducted the auction?
NLMC conducted the e-auction on behalf of RINL, which owns the land.
Were the plots part of a new housing project?
No. They were vacant residential plots offered at auction, not newly built homes.
When was the next auction date scheduled?
NLMC’s schedule listed October 16, 2026, for another auction date in the broader RINL portfolio.