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ITI Limited has announced an e-auction of 44.03 acres of commercial land in Bengaluru , marking another major step in the state-owned company's ongoing land monetisation programme.
The land parcel is located in Krishnarajapuram Village along Old Madras Road (NH75) and is being offered through an e-tender followed by e-auction under the supervision of the National Land Monetization Corporation (NLMC) .
The property has a reserve price of ₹38.28 crore per acre , putting the indicative total reserve value of the 44.03-acre parcel at approximately ₹1,685.4 crore .
The auction notification was issued on August 18, 2026 . The property is being offered for outright sale on an "As Is Where Is" basis .
| Particular | Details |
|---|---|
| Company | ITI Limited |
| Nodal Agency | National Land Monetization Corporation (NLMC) |
| Location | Krishnarajapuram Village, Bengaluru |
| Road | Old Madras Road (NH75) |
| Land Area | 44.03 acres |
| Approx. Area | 1,78,183.09 sq m |
| Land Use | Commercial |
| Reserve Price | ₹38.28 crore per acre |
| Indicative Total Reserve Value | ₹1,685.4 crore |
| EMD | ₹33.71 crore |
| Minimum Bid Increment | ₹0.25 crore per acre or multiples thereof |
| Sale Method | Outright Sale |
| Auction Process | E-Tender followed by E-Auction |
| Pre-Bid Meeting | September 3, 2026 |
| E-Auction | September 16, 2026 at 2 PM |
| Processing Fee | ₹24 lakh + GST and applicable taxes |
| Auction Basis | As Is Where Is |
The latest Bengaluru land auction comes after ITI Limited completed another significant land transaction in July 2026 .
The company had executed a sale deed for approximately 21 acres of land in Krishnarajapuram for ₹914.31 crore to the CGST Department.
According to the information provided, ITI used ₹902.81 crore from the sale proceeds to repay its consortium bank borrowings , resulting in the de-mortgaging of the concerned land parcel and clearance of its outstanding fund-based bank debt.
With the latest 44.03-acre parcel now being offered for auction, ITI's land monetisation activity in the Krishnarajapuram area extends to more than 65 acres .
The reserve price is ₹38.28 crore per acre . For the provisional 44.03-acre area, this translates into an indicative reserve value of around ₹1,685.4 crore .
The auction also requires an EMD of ₹33.71 crore . The minimum bid increment has been fixed at ₹0.25 crore per acre or multiples thereof .
The exact land extent remains provisional. The auction notification states that the final extent will be determined through a joint survey with the successful bidder .
The property is located in Krishnarajapuram in eastern Bengaluru , along Old Madras Road (NH75).
ITI Limited has described it as one of the few remaining contiguous land parcels of this size in eastern Bengaluru .
Given its location and commercial zoning, the property could attract interest from large real estate developers, institutional investors and companies looking for land for office campuses, residential projects or mixed-use developments , subject to applicable approvals and regulations.
The property will be sold through an e-tender followed by an e-auction .
Interested bidders must complete registration, submit the required technical bid and deposit the prescribed EMD within the timeline specified in the official RFP.
Only bidders meeting the eligibility and technical requirements will be able to participate in the subsequent auction process.
The pre-bid meeting is scheduled for September 3, 2026, in New Delhi .
Potential bidders can use the meeting to seek clarifications regarding the property, auction process and other provisions contained in the RFP.
The ITI Bengaluru land e-auction will be conducted on September 16, 2026, at 2 PM .
Bidders should complete registration and submission of all required documents within the deadline mentioned in the official auction documents.
The successful H1 bidder will have to pay an auction processing fee of ₹24 lakh plus GST and other applicable taxes .
The notification specifies that the processing fee is non-refundable and is payable only by the H1 bidder.
The RFP, e-brochure and detailed terms and conditions can be accessed through the NLMC's designated platforms.
NLMC e-Auction Portal: nlmc.enivida.com
NLMC DPE Portal: nlmc.dpe.gov.in
Participants should rely on the latest official RFP and auction documents for eligibility criteria, submission deadlines and other binding conditions.
ITI has historically carried substantial financial obligations, making the monetisation of non-core land assets an important part of its financial restructuring strategy.
The earlier ₹914.31-crore Krishnarajapuram land sale helped the company clear substantial bank borrowings. The proposed auction, if completed at or above the reserve price, could provide another significant source of liquidity.
The eventual use of the proceeds will be important for ITI's longer-term financial and operational strategy, particularly its ability to invest in its core businesses and reduce financing costs.
