National Land Monetisation Corporation (NLMC)

Subject : Polity

Section: National Organisation

Concept :

The National Land Monetisation Corporation (NLMC) has decided to utilise international property consultancy firms to help strategise and implement transactions from start to finish and expedite the monetisation plans for government-owned land assets across the country.
NLMC has now invited proposals from international property consultancy firms (IPCs) or other firms engaged in transaction advisory services, asset monetisation or project monetisation.

National Land Monetisation Corporation

NLMC was announced in the 2021-22 Union Budget.
National Land Monetisation Corporation is steered by the Department of Public Enterprises to undertake monetisation of non-core assets such as surplus land and building assets of central public sector enterprises (CPSEs) and other government agencies.
The new company will have an initial authorised share capital of ₹5,000 crore and paid-up share capital of ₹150 crore.

Composition :

The Board of Directors of NLMC will comprise senior Central Government officers and eminent experts to enable professional operations and management of the company.
The chairman, non-government directors of the NLMC will be appointed through a merit-based selection process.
Functions:
Government assets will be transferred to NLMC to hold, manage and monetise.
Advise and support other government entities, including CPSEs, in identifying their surplus non-core assets and monetising them in a professional and efficient manner to generate maximum value realisation.
NLMC will undertake surplus land asset monetisation as an agency function.
NLMC will act as a repository of best practices in land monetisation, assist and provide technical advice to the government in implementation of the asset monetisation programme.