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NATIONAL LAND MONETIZATION CORPORATION (NLMC)

NATIONAL LAND MONETIZATION CORPORATION (NLMC)

  • NLMC will undertake surplus land asset monetisation as an agency function, and assist and provide technical advice to the Centre in this regard.
  • NLMC has been announced with an initial authorized share capital of Rs 5000 crore and paid-up share capital of Rs 150 crore.
  • 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.
  • The new company, which will be set up under the administrative jurisdiction of the finance ministry.
  • NLMC will hire professionals from the private sector just as in the case of similar specialised government companies like the National Investment and Infrastructure Fund (NIIF) and Invest India.

Function of the NLMC

  • NLMC will undertake monetization of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other Government agencies.
  • CPSEs are those companies in which the direct holding of the Central Government or other CPSEs is 51% or more.
  • At present, CPSEs hold considerable surplus, unused and under-used non-core assets in the nature of land and buildings.
  • 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.
  • NLMC will act as a repository of best practices in land monetization, assist and provide technical advice to the Government in implementation of asset monetization programmes.