NBCC nominated as land management agency to dispose sick CPSEs

NBCC – a navratna central public sector enterprise (CPSE) today, announced that under the administrative control of urban development (MoUD) it has been nominated for disposal of land assets of the sick CPSEs.

On September 7, the Government of India issued a guidelines for closure of sick or loss making CPSEs including disposal of their movable and immovable assets.

As LMA, the NBCC will manage, maintain and protect the land assets of sick CPSEs and shall be paid fee for the same till it is disposed off.

"Government's effort for utilisation of the idle land of different sick CPSEs in time bound manner, will definetly boost economy of India and give enormous business opportunities to NBCC,” It said in a statement.

The company in consultation with the concerned CPSE will prepare development plan of each land parcel after examining prevailing development control norms.

For every disposal, NBCC will be paid 0.5% of the value realized during discarding of land, subject to maximum of Rs 1 crore in each case.

Further, the company will also invite expression of interest (EOI) and will offer for purchase of land at the prevailing circle rate/ acquisition cost from all government entities in order of priority.