No Bidders for Ludhiana’s ₹197-Crore Ghost Complex
File Photo LUDHIANA: A 77-unit neglected property attracted no bidders at auction, extending an 18-year failure streak for the Ludhiana Improvement Trust (LIT), which had hoped for a valuation of ₹197 crore. The government-backed developer must now reevaluate the reserve price, while the 2.22-acre Rani Jhansi Road site remains an unappealing structure after local officials dismissed internal warnings about its excessive reserve price negatively impacting the sale. Local developers had previously shunned it, even with a reduced valuation of ₹154 crore under a prior administration. This inaccessibility has hindered the LIT’s latest revenue generation efforts. The prime commercial building has…