Cabinet Approves formation of National Land Monetisation Corporation (NLMC)

Cabinet has approved National Land Monetisation Corporation (NLMC) formation.

Aim: to handle the sale of surplus land and buildings of the government, its agencies, and Central Public Sector Enterprises (CPSEs).

NLMC:

It will be a wholly-owned central government entity. Initial authorised share capital: Rs 5,000 crore.

Paid-up share capital: Rs 150 crore. It will be a lean organisation with minimal full-time staff, hired directly from the market on contract basis.