National Textile Corporation has got another Rs. 1,505 crore from the sale of an 8.39 acre plot under its now closed Bharat Textile Mills at Worli in Mumbai.
With this, the recently launched plan of the Union Textile Ministry to raise at least Rs. 5,000 crore during the current financial year through the sale of surplus land of NTC has got off to a good start, with a return of Rs. 1,979 crore from the auction for just two pieces of land.
A major highlight of the plan is that the real estate properties are being sold through the process of e-auction.
Indiabulls InfraEstate has clinched the deal with a quote of Rs. 1,505 crore.
NTC has a total of 1,300 acres of surplus in different parts of the country, with the bulk of it in Mumbai.
Keywords: National Textile Corporation