Tag: Tarsem Bhinder

CommercialLatest Stories

Ludhiana: LIT Cuts Reserve Price to ₹182 Crore for Auction

LUDHIANA: The Ludhiana Improvement Trust (LIT) has introduced a new e-auction for its prime multi-storey commercial building located on Rani Jhansi Road, reducing the reserve price by ₹15 crore to attract potential buyers after several unsuccessful attempts. The updated reserve price is ₹182 crore, down from the ₹197 crore set during the failed auction in May. The e-auction is already underway and will conclude on July 22, when officials will assess whether the price reduction has garnered interest from bidders. During the initial auction attempt in May, a rate fixation committee led by the deputy commissioner endorsed a reduction in…

IndustryLatest Stories

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…