LIC Share Price: Sources claim that at the time of last valuation, the value of LIC’s property was estimated at Rs 50000-60000 crore. Now, it is expected that all the buildings will be valued again to formalise the entire process for the sale of LIC’s property.
LIC Auction Plan: Life Insurance Corporation of India (LIC) is a leading company in the country not only in terms of insurance but also in terms of land bank. The insurance company is planning to raise around Rs 58000 crore from this sale. According to a report published in Mint, LIC has formed a team to plan the sale of its properties across the country. The news claims that this process can start from Mumbai. LIC plans to sell premium commercial buildings and land located in different parts of the country.
Valuation of buildings will be done once again
According to sources, at the time of last valuation, the value of LIC’s property was estimated to be around Rs 50,000-60,000 crore. Valuation of buildings is expected to be done once again to formalize the entire process for selling LIC’s property.
The price can be up to Rs 2.5-3 lakh crore
A source also said that many of LIC’s buildings have never been sold before. Therefore, there is no idea about their real price. The real price can be ‘at least five times more’ than the current estimate, it comes to around ₹ 2.5-3 lakh crore.
There will be a need to change the rules
Let us also tell you that LIC also has the famous State Bank of India building located on the Mall Road of Mussoorie in Uttarakhand and offices of two big media houses in New Delhi and Lucknow. LIC has many such valuable properties but it is important to know their real value. To find out the real value of these properties, they will have to be sold one by one in auction.
Plans to sell these properties have been made by LIC earlier also. But this planning could not be finalized due to some reason or the other. This time, this plan is moving forward rapidly due to the government’s emphasis on earning money by selling the properties of government companies.
