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Cabinet nod for setting up National Land Monetization Corpn

Thursday, 10 Mar 2022
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The Union Cabinet, chaired by Prime Minister Narendra Modi has approved the setting up National Land Monetization Corporation (NLMC) as a wholly-owned government of India company with an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.  
NLMC will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other government agencies. The proposal is in pursuance of the Budget Announcement for 2021-22. 
With monetisation of non-core assets, government would be able to generate substantial revenues by monetising unused and under-used assets. 
At present, CPSEs hold considerable surplus, unused and under used non-core assets in the nature of land and buildings. For CPSEs undergoing strategic disinvestment or closure, monetization of these surplus land and non-core assets is important to unlock their value.  NLMC will support and undertake monetization of these assets. 
The move will speed up the closure process of CPSEs and smoothen the strategic disinvestment process of Government owned CPSEs. These assets may be transferred to NLMC to hold, manage and monetize these assets. NLMC will also advise and support other Government entities (including CPSEs) in identifying their surplus non-core assets and monetizing them in a professional and efficient manner to generate maximum value realization. 
In these cases on-going CPSEs and listed CPSEs under strategic disinvestment, NLMC will undertake surplus land asset monetization as an agency function. It is expected that NLMC will act as a repository of best practices in land monetisation, assist and provide technical advice to government in implementation of asset monetisation programme.
NLMC will have necessary technical expertise to professionally manage and monetise land assets on behalf of CPSEs and other government agencies. Going forward, Department of Public Enterprise, Ministry of Finance, will set up the company and act as its administrative ministry.
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