Just weeks from the May budget, NSW says it is still trying to convince the federal government to honour a formal deal for up to $400 million payment linked to the sale of the state's land registry.

As revealed by Street Talk, NSW Treasurer Dominic Perrottet on Wednesday announced the sale for $2.6 billion to a consortium-led by Hastings Funds Management and First State Super of a 35-year license to run the state's register of land and property information.

But Mr Perrottet hedged at a press conference on whether the state would receive a payment worth 15 per cent of the sale price under the so-called "asset recycling" scheme which encourages states to privatise and spend the proceeds on infrastructure.

NSW Premier Gladys Berejiklian and Treasurer Dominic Perrottet announcing the sale in Sydney of the NSW land registry. Jessica Hromas

Mr Perrottet said he was still talking to federal Treasurer Scott Morrison but the land registry sale was "in isolation" to the asset recycling initiative. "We will explore those opportunities but obviously we have drawn down on the asset recycling fund from the Commonwealth."

That raises a question about whether the May budget will renege on NSW's last big privatisation, the sale of Endeavour Energy, expected to raise $8 billion. Sources said the state is concerned it may not be paid in full.