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National Land Monetization Corporation

  • 10 Mar 2022

The Union Cabinet has approved the setting up National Land Monetization Corporation (NLMC) as a wholly owned Government of India company with an initial authorized share capital of Rs 5000 crore and paid-up share capital of Rs 150 crore.

  • NLMC will undertake monetization 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 monetization of non-core assets, Government would be able to generate substantial revenues by monetizing unused and under-used assets.
  • 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.